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Down-payment Assistance Program guidelines have been updated


The Unifour Consortium Down-payment assistance program provides assistance of 20% of the purchase price, capping at $30,000 to eligible first time homebuyers. Our loan is a zero (0)% interest loan and a zero (0) monthly payment. Half of our loan is forgiven at the 10 year anniversary. Repayment is triggered if or when you sale, refinance or otherwise transfer property.  We can subordinate in the event of refinancing.


The program will have much more financial exposure, additional underwriting requirements will be imposed. A Minimum Credit Score of 620 will be required. Front End Ratios may not be more than 32%, Back End Ratios may not be more than 42%, and if Monthly Private Mortgage Insurance Premiums are required, then they may not be more than $40. Simply think (32/42/$40). Current rent amounts and debt, along with Credit Score will be taken into account.


Interest Rates and Fees must be attractive and reasonable for the goal of providing affordable housing. Any deviation above the 32/42/$40 will require a 700 or better Credit Score for further consideration.


Client cannot have owned a home in the last 3 years.  No mobile homes.


Homes must be purchased in Alexander, Burke, Caldwell or Catawba counties.


Clients must be within the income guidelines, have $500 going towards the purchase of the home, and be able to obtain a loan from a participating lender.


Income for the HOME program is based on total gross household income.  A snapshot is taken of the household’s curtain income and then projected forward 12 months to arrive at total household gross annual income.



   1 Person   2 Persons  3 Persons   4 Persons   5 Persons    6 Persons   7 Persons  8 Persons

$39,950    $45,650    $51,350    $57,050    $61,650    $66,200    $70,750    $75,350


Maximum Existing Home Purchase Price cannot be more than $217,000 in Alexander, Burke, and Caldwell Counties.


Maximum Existing Home Purchase Price cannot be more than $219,000 in Catawba County.


Maximum New Construction Home Purchase Price is $251,000 for all four counties


Please contact Rick Oxford at 828-485-4245 or Jennifer Cannon at 828-485-4250 for more information

Assistance Program

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How does an applicant apply for Homebuyer Assistance?

For more information about applying for the First Time Home Buyer Assistance Program applicants may contact:


Rick Oxford

Housing Program Manager
Phone (828) 485-4245
FAX (828) 322-5991

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