City of Gastonia – Homebuyer Assistance Program | North Carolina grant

City of Gastonia – Homebuyer Assistance Program

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City of Gastonia – Housing and Neighborhoods DivisionNCFirst-Time Homeowner

Funding: Provides standard assistance up to five thousand dollars, with increased maximums of seven thousand five hundred or ten thousand dollars for very low income households, structured as a zero percent interest second mortgage forgiven on a prorated basis over a five year affordability period.HUD HOME funded zero percent interest second mortgage that provides deferred and partially forgivable down payment and closing cost assistance based on household income tier.RollingDeadline: Scope: Regionalstate

Updated: Dec 6, 2025

Summary

HOME-funded down payment and closing cost assistance program providing up to $5,000–$10,000 for modest-income buyers in Gaston County and Kings Mountain.

Benefits

down payment assistanceclosing cost assistance0% interestforgivable loanHOME programregional program

Who Can Apply

homebuyerfirst-time homebuyerdisplaced homebuyerlow-income homebuyermoderate-income homebuyerGaston County residentKings Mountain resident

Eligible Locations

First time or displaced homebuyers who have not owned a home in the last three years and are residents of eligible Gaston County townships or Kings Mountain in Cleveland County, with household income at or below eighty percent of area median income and purchasing a primary residence that meets city housing standards.

Eligibility

First-time or displaced homebuyers (or those who have not owned a home in the last 3 years) who are residents of eligible Gaston County townships or Kings Mountain (Cleveland County), with household income at or below 80% AMI; must complete homebuyer education, qualify for an approved first mortgage (FHA, USDA, CRA-conforming loans), and purchase a primary residence meeting city housing standards.

Full Description

The City of Gastonia Homebuyer Assistance Program uses HUD HOME funds to help low- and moderate-income households overcome upfront cost barriers when buying a primary residence. Assistance is typically capped at $5,000 but can reach $7,500 or $10,000 for very low-income buyers, with the amount tied to the household’s percentage of area median income and specific need at closing. Funds are structured as a 0% interest second mortgage secured against the property, forgiven over a five-year affordability period on a prorated basis when the buyer remains in the home. Eligible applicants must be first-time or displaced homebuyers, live in designated Gaston County townships or Kings Mountain, meet income limits (≤80% AMI), complete homebuyer education, and use approved loan products, while the property itself must pass city minimum housing code inspections and be used as the buyer’s primary residence. (City of Gastonia)

Verification & Details

Status: Open

Source: cityofgastonia.com

Official source → cityofgastonia.com

Apply on official siteUpdated Dec 6, 2025

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