City of Rocky Mount
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City of Rocky MountNCFirst-Time HomeownerCity of Rocky Mount zero percent interest deferred payment loans funded with CDBG, HOME, and local dollars to cover down payment, closing costs, upfront mortgage insurance, and gap financing for first time buyers.
Updated: Dec 6, 2025
High-impact down payment and closing cost assistance of up to $40,000–$50,000 for low-income first-time buyers purchasing in Rocky Mount, with targeted neighborhood bonuses and long-term forgivable terms.
Eligible for: First-time homebuyers (no ownership in the last 3 years) with household incomes at or below 80% AMI purchasing a primary residence within Ro…
Funding: Offers deferred payment loans up to forty thousand dollars citywide with an additional ten thousand dollar incentive available in designated target neighborhoods, for a potential total of up to fifty thousand dollars in assistance that is forgiven over multi year affordability periods with no monthly payment while the home remains owner occupied.Deadline: Rolling; assistance awarded on a first-ready, first-served basis while CDBG/HOME/general funds are availableRollingLocalhomebuyerfirst-time homebuyerlow-income homebuyerRocky Mount residentdown payment assistanceclosing cost assistance0% interestdeferred loanforgivable loantarget-area incentivecity programgap financing