GREENSBORO, N.C. — The City of Greensboro has three programs to help first-time home buyers with their down payment.
1ST TIME HOME BUYERS ASSISTANCE PROGRAM #1
If you are a first-time home buyer and your household income is below 80% of the (AMI) Area Median Income. You can get up to $15,000 in assistance plus $5,000 for homes in reinvestment or redevelopment areas.
1ST TIME HOME BUYERS ASSISTANCE PROGRAM #2
The second is for first-time home buyers with incomes between 81% and 120% of AMI. You can get up to $10,000 of assistance and $5,000 for homes in reinvestment or redevelopment areas.
PUBLIC SERVICE HEROES HOME BUYERS PROGRAM
The newest program is the Public Service Heroes program. This is for anyone who works for the City of Greensboro, Guilford County, Guilford County Public Schools, or a member of the military or is a veteran.
The household income AMI required is between 81% to 120%.
"We've increased that this year to target city and county employees, first responders, and our teachers. If they live in certain reinvestment areas, and if they live there for a number of years, they can get up to $20,000 to $25,000 in forgivable down payment assistance," said Greensboro Mayor Nancy Vaughan.
All programs get bonus money for living in reinvestment or redevelopment areas in the city limits. You'll see them shaded in purple and orange on this map.
The Heroes program gets an extra $10,000 versus the $5,000 bonus for others living in these areas.
WHAT DO THE AREA MEDIAN INCOME THRESHOLDS LOOK LIKE?
Most of us don't know what the AMI or Area Median Income is. For all of these programs, there are thresholds. For Program #1, there is an 80% AMI or less.
