If you’ve been trying to buy your first home in Durham but can’t scrape together enough for a down payment, the city has a program that could hand you up to $80,000—one that many eligible buyers may not be hearing about consistently.
Durham’s Down Payment Assistance Program provides 15-year forgivable loans of up to $80,000 to help low- and moderate-income first-time buyers cover down payment and closing costs.
A city audit released in April found the program is active and growing, but warned of underutilization risk and flagged gaps that could limit its reach.
What the program actually offers
The loan forgives 1/15th of the balance each year you stay in the home as your primary residence. After 15 years, the entire amount is wiped clean—no repayment required…