Saving for a down payment can feel like the biggest hurdle between you and a home in High Point. The good news is you have real, local programs that can help reduce what you need upfront. In this guide, you’ll learn which options are available in High Point and Guilford County, who qualifies, how the funds work, and the steps to apply without delays. Let’s dive in.
High Point programs at a glance
City‑Wide Homebuyer Assistance
The City of High Point offers up to $7,500 as a 0% interest, forgivable second loan. It forgives 20% per year over five years if you stay in the home. Income is capped at 80% of area median, you must contribute $500 of your own funds, and the home must be inside city limits and under price limits. Review current details on the City’s page for the City‑Wide Homebuyer Assistance Program.
Core City Homebuyer Incentive
Buying inside High Point’s Core City? You may qualify for $7,500 at 0% interest, forgiven 20% per year over five years. The program lists a $300,000 sales price limit and, notably, shows no income limit for this incentive. Confirm boundaries and current rules on the Core City Homebuyer Incentive Program page.
County and state options
Guilford County DPA
Guilford County has historically offered up to $10,000 in down payment help, administered with local partners. Program amounts and rules can change, so review the county’s guidelines and confirm today’s maximums using the Guilford County Homebuyer Down Payment Assistance page. The Housing Consultants Group supports education and intake for many local programs. You can connect with them through Housing Consultants Group.
NCHFA statewide assistance
North Carolina Housing Finance Agency (NCHFA) offers:
- NC Home Advantage Mortgage with down payment help up to 3% of the loan amount through participating lenders. Learn more on the NC Home Advantage Mortgage page.
- NC 1st Home Advantage Down Payment for eligible first‑time buyers and veterans with assistance up to $15,000 as a deferred 0% second mortgage, forgiven over time. See details on the NC 1st Home Advantage Down Payment page.
NCHFA raised certain income and sales price limits in mid‑2025, expanding eligibility. Always confirm current limits with a participating lender.
Mortgage Credit Certificate update
NCHFA’s Mortgage Credit Certificate (NC Home Advantage Tax Credit) was reported as terminated or paused around March 2025 as funds were exhausted. Availability is uncertain. Check the latest status on the NC Home Advantage Tax Credit page and consult your lender or tax advisor.
Zero‑down and low‑down loans
VA loans
If you are eligible, VA loans often require no down payment and can pair with certain assistance programs subject to lender and program rules. Review VA benefits on the VA home loans page.
USDA loans
USDA loans can provide 100% financing for properties in eligible areas. Eligibility is address‑specific. Check a home’s status using the USDA property eligibility map.
FHA loans
FHA loans typically require 3.5% down for qualified borrowers. FHA permits gift funds under HUD guidelines, which can work alongside some assistance programs. See guidance on FHA down payment sources and gifts.
How these funds actually work
Most local and state assistance is a deferred, 0% second mortgage recorded as a lien. High Point city programs forgive the balance 20% per year over five years if you stay in the home and follow program rules. Many NCHFA options forgive over longer schedules. If you sell, refinance, or move out before the forgiveness period ends, you may have to repay what remains.
Funds can usually be applied to your down payment, closing costs, and prepaids. High Point’s city program does not cover earnest money, and the city‑wide program requires $500 of your own funds.
Step‑by‑step: how to apply
- Confirm location and program fit
- Verify the home is inside High Point city limits, and check if it falls in the Core City area using the city’s program pages.
- If you are considering USDA, run the address through the USDA property eligibility map.
- Get pre‑approved with a participating lender
- NCHFA assistance is reserved through participating lenders, and many local programs require lender participation. Start with pre‑approval so funds can be reserved.
- Complete homebuyer education
- Most programs require a certified class before closing. The Housing Consultants Group offers local education and helps with program intake.
- Reserve funds early
- Assistance is limited and often first‑come, first‑served. Reserve as soon as you have pre‑approval and confirm program availability.
- Prepare for closing
- Your closing attorney and lender will include the second lien in your documents. Review forgiveness timelines and any repayment triggers before you sign.
Common pitfalls to avoid
- Assuming funds are guaranteed. Budgets and rules change. Always confirm current availability on official program pages.
- Overlooking price and income caps. City, county, and NCHFA programs all have caps that can limit which homes qualify.
- Using a lender unfamiliar with DPA. This can slow your process. Choose a participating lender who handles these programs regularly.
- Counting on earnest money coverage. High Point’s city program does not cover earnest money.
- Ignoring forgiveness terms. Selling or refinancing early can trigger repayment.
- Relying on MCC availability. The MCC program’s status is uncertain, so verify before factoring it into your plan.
Who typically qualifies
- You plan to occupy the home as your primary residence and stay long enough for forgiveness.
- For High Point city‑wide assistance, your household income is at or below 80% of AMI and you can contribute $500 of your own funds.
- For Core City incentives, you meet the sales price limit and property location rules.
- For NCHFA programs, you meet current income and sales price limits, which were increased in mid‑2025. Work with a participating lender to confirm.
Make your move in High Point
With the right plan, you can lower your upfront costs and buy with confidence. If you want help matching your situation to the right program and staying on top of changing rules, reach out. Colleen Long brings 20+ years of Triad experience, trusted lender and counselor connections, and hands‑on guidance to get you home.
FAQs
How much down payment help is available in High Point?
- City programs list up to $7,500, Guilford County has historically offered up to $10,000, and NCHFA offers up to 3% of the loan amount or up to $15,000 for eligible first‑time buyers and veterans, subject to current rules and funding.
Can I combine DPA with FHA, VA, or USDA loans?
- Often yes, especially with NCHFA assistance, but stacking depends on each program’s rules and your lender’s guidelines, and USDA properties must meet map‑based eligibility.
Do I have to be a first‑time buyer to get help?
- It depends on the program; some target first‑time buyers, the High Point Core City incentive shows no income limits, and certain NCHFA options permit move‑up buyers within program limits.
What costs can DPA cover in High Point?
- Most programs allow funds for down payment, closing costs, and prepaids, but High Point’s program does not cover earnest money and the city‑wide program requires a $500 buyer contribution.
How long must I live in the home to keep the assistance?
- High Point city assistance forgives over five years at 20% per year, while many NCHFA products use longer schedules; selling or refinancing early can trigger repayment under program terms.
