Bond-Funded Down Payment Assistance Program

In February 2019, Asheville City Council adopted a Down Payment Assistance policy (DPA) to help make home ownership available to low- and moderate-income city residents and staff.

The policy paves the way for the City’s DPA program to begin offering down-payment assistance to qualified applicants.

Will provide $1.4 million

Beginning this spring, the City’s Down Payment Assistance Program (DPA) will make a total of $1.4 million available to qualifying individuals and families to help them buy a home. The funding is a combination of $1 million in bond money and a public-private partnership with the Federal Home Loan Bank ($400,000).

Down payment assistance will be available to qualifying full-time city employees, including police officers, firefighters, and teachers who have been employed with Asheville City Schools for at least one year. Homebuyers must provide $1,000 of their own down payment money.

Find out more at open house

The City will hold an open house for its Down Payment Assistance Program on Saturday, May 18, 2019 from 10 a.m. to 12 noon at the Stephens-Lee Center gymnasium, 30 George Washington Carver Ave., for potential home buyers to meet with lenders knowledgeable about this lending tool.

For more information, contact City Housing Development Specialist Paul D’Angelo at PDangelo@ashevillenc.gov or (828) 251-4098.

 

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