Eligible homebuyers in Gastonia can get thousands of dollars to help with the down payment or closing costs, thanks to the City’s involvement in the area’s new NeighborhoodLIFT program. This assistance grant program is for first-time homebuyers or those who may have owned in the past but currently do not own a house. For those who qualify, the new grant program can be combined with the City of Gastonia’s existing down payment program.
“This looks to be a great event to boost homeownership,” said Juliann Lehman, a case management specialist with the City of Gastonia’s Community Services Department. “With a seller-driven market, this is an excellent way to get many people into homes who may have been worried about down payment issues.”
The NeighborhoodLIFT program provides a $15,000 grant for eligible homebuyers in Gaston, Cabarrus, Mecklenburg, Rowan and Union counties. The grant increases to $17,500 for borrowers who are police officers, firefighters, teachers, emergency medical technicians, or are current or former members of the U.S. military.
To be eligible, an individual or family’s income must not be more than 80 percent of the area median income. For those in the military, the income cap is 100 percent of the area median income. Grant funds will be made available to those who go under contract within 60 days. Recipients do not have to repay the grant if they attend homebuyer education classes and stay in the home for five years.
Those interested in receiving a NeighborhoodLIFT grant must attend an information event next month, and appointments are strongly recommended. The sessions will be held:
- Friday and Saturday, Nov. 16 and 17
- Charlotte Convention Center
- 501 S. College St., Charlotte, N.C., 28202
Admission and parking are free. For details or to make an appointment, go to https://www.wellsfargo.com/mortgage/lift/. The NeighborhoodLIFT program is sponsored by the nonprofit Charlotte-Mecklenburg Housing Partnership and Wells Fargo.