What first-time homebuyer programs are available in Durham, NC?

Durham homebuyers can benefit from programs such as the NC 1st Home Advantage Down Payment program, the NC Home Advantage Mortgage™, and the Durham Neighborhood Homeownership Incentive Program. These offer down payment help, favorable loan terms, and grants to make homeownership more affordable.

Who qualifies for the NC 1st Home Advantage Program?

To qualify, you must be a first-time buyer or military veteran, meet income and credit requirements, and use the home as your primary residence. The program offers up to $15,000 in down payment assistance, which is forgiven after 15 years if you stay in the home.

Can Durham first-time buyers combine state and local programs?

Yes. Many buyers combine statewide options like the NC Home Advantage Mortgage™ with local Durham incentives or employer grants. This can maximize savings on both down payments and closing costs.

Why should I work with a local REALTOR® when buying my first home in Durham?

A local REALTOR® understands which neighborhoods qualify for special programs, knows trusted lenders who participate, and can guide you step-by-step through the process to ensure you get the most financial benefit possible.

First-Time Homebuyers Durham | Programs & Assistance

Latrice McFadden

2 weeks ago

First-Time Homebuyers Durham — a welcoming tree-lined street with charming single-story homes and the iconic Durham skyline in the background, capturing the appeal of homeownership in a vibrant, residential Durham neighborhood.

Durham First-Time Homebuyer Programs You Should Know About

Buying your first home is one of the biggest milestones in life. For many, it’s a dream come true; however, it can also feel overwhelming, especially when it comes to saving enough for a down payment and understanding the process. The good news is that if you’re one of the many first-time homebuyers in Durham, these programs can make the path to homeownership much easier and more affordable.

As a local REALTOR® who works with buyers across Durham and the Triangle, I’ve guided many clients in taking advantage of these programs. In this guide, I’ll not only walk you through the most helpful Durham first-time homebuyer programs but also share tips for qualifying and explain how you can get started right away.

Why First-Time Homebuyers in Durham Benefit from Assistance Programs

Durham is one of the most popular housing markets in North Carolina, thanks to its mix of affordability, job opportunities, and lifestyle perks. Even so, rising home prices can make it harder for first-time buyers to compete.

This is exactly why first-time homebuyer assistance programs are so valuable. These programs can:

Reduce your upfront down payment
Cover part of your closing costs
Provide favorable mortgage terms
Offer grants that don’t have to be repaid

As a result, many Durham first-time homebuyers find that these programs are the key to making the leap from renting to owning.

🏡 NC 1st Home Advantage Program for First-Time Homebuyers in Durham

What Is the NC 1st Home Advantage Program?

The NC 1st Home Advantage Down Payment program is one of the most popular options for first-time buyers in Durham. Specifically, it’s designed to give you the boost you need when saving for a down payment.

How It Helps Durham First-Time Buyers

Offers up to $15,000 in down payment assistance

In addition, the program provides a second mortgage, which lenders forgive after 15 years if you stay in the home.
No repayment required if you meet program requirements

Who Qualifies?

Must be a first-time buyer or a military veteran
Meet income and credit requirements
Must use the home as a primary residence

Because of these benefits, this program is ideal for Durham first-time homebuyers who qualify but are struggling to save enough cash upfront.

🏡 NC Home Advantage Mortgage™: A Top Option for Durham First-Time Homebuyers

What Is the NC Home Advantage Mortgage?

By contrast, unlike the program above, the NC Home Advantage Mortgage™ is not limited to first-time buyers. Instead, it’s an attractive option for both new and move-up buyers in Durham.

Benefits for First-Time Homebuyers in Durham

Provides down payment assistance up to 3% of the loan amount
Furthermore, it can be applied to either down payment or closing costs
It also works alongside popular loan types such as FHA, VA, and USDA loans

Who Qualifies?

Buyers purchasing a primary residence in North Carolina
Must meet income and credit score guidelines
Additionally, it can be combined with the NC 1st Home Advantage program for extra assistance

As a result, first-time buyers in Durham can save thousands of dollars and enjoy a much smoother path to closing.

🏡 Durham Neighborhood Homeownership Incentive Program for First-Time Buyers

Why Local Programs Matter

In addition to statewide assistance, Durham first-time homebuyers should also explore local city or county programs. For instance, one option is the Durham Neighborhood Homeownership Incentive Program.

How It Helps First-Time Buyers

Provides financial incentives to encourage homeownership in certain neighborhoods
Moreover, it promotes community stability and long-term investment
In many cases, it pairs with state-level programs for maximum benefit

Who Qualifies?

Buyers purchasing within eligible neighborhoods
Must use the property as a primary residence
Sometimes, may include income or purchase price limits

Because these programs can change over time, working with a Durham REALTOR® who stays updated ensures you never miss out on opportunities that could save you money.

🏡 Extra Programs for First-Time Homebuyers in Durham

While the three programs above are the most recognized, there are also additional resources available to Durham first-time buyers. Specifically, these options include federal loan programs and local grant opportunities.

Federal Loan Options

For example, FHA Loans → Require as little as 3.5% down payment
In contrast, VA Loans → No down payment required (for eligible veterans and service members)
Similarly, USDA Loans → No down payment required in eligible rural areas (parts of Durham County may qualify)

Employer and Local Grants

In addition to federal loans, some employers, universities, and nonprofits in the Triangle also provide homebuyer grants. Furthermore, these grants can sometimes be combined with state and federal programs, creating even greater savings.

📝 Smart Tips to Help First-Time Homebuyers in Durham Succeed

First, check your credit score early. Lenders typically look for a minimum credit score of 620–640. Moreover, a higher score will not only get you better rates but may also expand your eligibility for programs.

Next, get pre-approved before you start house hunting. This way, you’ll have a realistic budget and a stronger offer in Durham’s competitive market.

In addition, work with a local real estate professional. An experienced Durham REALTOR® knows which neighborhoods qualify for local incentives and which lenders are most familiar with first-time buyer programs.

Finally, don’t overlook closing costs. Even with down payment assistance, you’ll still need to budget for inspections, appraisals, and fees. Fortunately, some programs can help cover these expenses too.

Why Buying a Home in Durham Is a Smart Move for First-Time Buyers

Beyond financial assistance, Durham isn’t just a place to buy a house — it’s a thriving community.

To begin with, strong job growth, fueled by Research Triangle Park, keeps the market steady.
Additionally, the city offers an affordable cost of living compared to other major U.S. cities.
On top of that, Durham boasts a vibrant arts, dining, and cultural scene.
Finally, access to top-tier universities and healthcare makes it a desirable place to settle down.

As a result, for first-time homebuyers in Durham, entering the market now means building equity in one of the fastest-growing regions in the Southeast.

🎯 Ready to Make Your Move in Durham?

Becoming a homeowner doesn’t have to feel out of reach. With the right programs, coupled with guidance and local expertise, you can confidently make the leap from renter to owner — and start building wealth through real estate.

As a result, my role as a local REALTOR® who specializes in first-time buyers in Durham is to help clients every step of the way. Specifically, I:

- First, find out which programs they qualify for.
- Next, connect them with trusted lenders who offer these programs.
- Then, guide them through the buying process step by step.
- Finally, negotiate the best deal possible.

❓ Frequently Asked Questions – Durham First-Time Homebuyer Programs

1. What is the best first-time homebuyer program in Durham?
Durham offers several options, including down payment assistance and grants through the North Carolina Housing Finance Agency (NCHFA). The best program for you depends on your income, credit score, and eligibility.

2. Do first-time homebuyers in Durham get down payment assistance?
Yes! Many programs provide forgivable loans or grants that help cover your down payment and closing costs. You can explore options on the City of Durham Housing Authority website or talk with a local REALTOR®.

3. How do I qualify for a first-time homebuyer program in Durham?
Most programs require you to meet income limits, complete a homebuyer education course, and work with an approved lender. You can also contact Latrice McFadden for guidance tailored to your situation.

4. Can I use these programs with FHA or VA loans?
Absolutely. Many assistance programs in Durham can be combined with FHA loans, VA loans, or USDA loans to reduce upfront costs.

5. Where can I learn more?
Check out resources like the City of Durham Housing Authority, the North Carolina Housing Finance Agency, or work directly with a Durham real estate professional who understands these programs.

✅ Next Read:

Looking ahead, if you want to continue learning, check out more real estate tips for North Carolina buyers. Visit our blog hub for guides, tips, and resources to help you make your move with confidence.

👉 Ready to take action? Contact me today to explore Durham first-time homebuyer programs or get a free home valuation to see where you stand in today’s market.