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Get Matched Free →Mountain Housing Opportunities Down Payment Assistance
Funding status: Active
How much assistance
$20,000 to $30,000
Shared appreciation loan: payment deferred without interest until resale or no longer owner-occupied. At that point, the homeowner repays the original loan plus interest equal to the home's rate of appreciation.
Eligibility
- Income limits: At or below 80% AMI for Buncombe County
- First-time buyer required: Yes —
- Geographic restrictions: Must purchase in Buncombe, Henderson, Haywood, or Madison County.
- Homebuyer education required: Yes
How to Apply for Mountain Housing Opportunities Down Payment Assistance
Step 1: Complete a homebuyer education course. Step 2: Contact Mountain Housing Opportunities to schedule an intake appointment. Step 3: Verify your income is at or below 80% AMI for the county where you are purchasing. Step 4: Work with a participating lender to get pre-approved for a first mortgage. Step 5: Find an affordable home in Buncombe, Henderson, Haywood, or Madison County. Step 6: Apply for down payment assistance through MHO.
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