Homebuying Hero Program

Hero Program.jpg The City of Fayetteville believes that homeownership does not have to feel like an unattainable goal. Administered by the City’s Economic and Community Development Department, the Homebuying HERO program provides homebuyers with up to $30,000 in gap financing towards the purchase of a home in the form of a forgivable loan at zero percent interest. The home must be within the city limits of Fayetteville.

The first step a potential homebuyer must take is to attend the First Time Homebuyers Workshop, which equips potential homeowners with the knowledge and resources to be successful long-term homeowners. The homebuyer will then attend personalized 1-on-1 counseling (if necessary) with a HUD-certified housing counseling agency before they are eligible to apply for the program.

All applications must be submitted through a participating lender.

What type of Homebuying HERO will you be?

Citizen Hero

Who: Current or future City of Fayetteville residents

How Much: Up to $20,000 in gap financing

Applicant must have a gross income at or below 120% of the area median income adjusted for family size.

120 area median income updated 4/25.png

Public Service Hero

Who: All federal, state and local government employees, all public and private healthcare professionals, and employees of public and private educational schools and institutions. Retirees of the City of Fayetteville and public service retirees are also eligible.

How Much: Up to $30,000 in gap financing

Applicant must have a gross income at or below 120% of the area median income adjusted for family size.

120 area median income updated 4/25.png

City Employee Hero

Who: City of Fayetteville employees

How Much: Up to $30,000 in gap financing

Applicant must have a gross income at or below 140% of the area median income adjusted for family size.

140 area median income updated 4/25.png

Homebuying HERO Guidelines(PDF, 6MB) First Time Homebuyer Workshop Find a Lender Find a Real Estate Agent 

 

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