DownPaymentMap

Cabarrus-Iredell-Rowan HOME: Down Payment Help via Cities

Cabarrus/Iredell/Rowan HOME Consortium Down Payment AssistanceAdministered by City of Concord Community Housing DepartmentAssistanceNorth Carolina

Reviewed by Tyler Thompson, holds real estate licenses in North Carolina and South Carolina

Published · Facts verified against the official source

What Is Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance is a North Carolina homebuyer program that offers HOME-funded down payment assistance and closing cost help in Cabarrus, Iredell and Rowan counties. The City of Concord Community Housing Department leads the consortium, and each member city or county runs its own homebuyer assistance. The help is gap financing that may be used for closing costs, down payment assistance, or both.

There is no single consortium-wide application, so what is offered depends on the member serving the home you want to buy. To compare it with other options, see North Carolina down payment assistance programs.

Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance at a glance

Kind of help
Member-administered HOME homebuyer gap financing that may be used for closing costs and/or down payment assistance.
Interest and forgiveness
All homebuyer down payment and closing cost assistance is subject to HOME recapture provisions. The Consortium manual states that members structure recapture based on their homeownership program design and market conditions and lists options including recapture of the entire HOME investment, pro-rata reduction during the affordability period, shared net proceeds, and returning the owner's investment first; the applicable structure is set by the administering member and loan documents.
Income limit
Household income up to 80% of the area median income for your county and household size.
First-time buyers only?
Yes, with exceptions.
Credit
No consortium-wide minimum credit score is stated. The manual requires the prospective homebuyer to demonstrate ability to repay, limits housing costs to 30% of gross income, and requires debt-to-income ratios to meet standard underwriting guidelines.
Loan types
The consortium manual does not list FHA, VA, USDA, conventional, or other mortgage types; it requires qualification for a first mortgage through a lending entity approved by the Consortium Member.
Where
Cabarrus County, Iredell County, Rowan County.
Homebuyer education
Required.
Housing cost limit
At or below 30% of gross income
Current funding status
Funding status could not be confirmed.
Who runs it
City of Concord Community Housing Department

Check your eligibility

Answer a few quick questions to see whether Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance and other North Carolina programs may fit you.

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How Does Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance Work?

The consortium is a group of local governments that share federal HOME funds: the City of Concord, Cabarrus County, Iredell County, the City of Kannapolis, the Town of Mooresville, the City of Salisbury, the City of Statesville and Rowan County.

Each member decides its own program design, how it takes applications and where it offers help. The record does not state one assistance amount, loan type or interest rate for the whole consortium, so ask the member serving your address for its current terms.

Who Qualifies for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

These are the consortium's rules as its policy manual states them:

  • Income: household income at or below 80% of area median income, as determined by HUD.
  • First-time or repeat buyers: a first-time buyer has not owned a home during the previous three years. The manual makes exceptions for a displaced homemaker or single parent who owned or lived in a home owned by a spouse.
  • Occupancy: the home must be your primary residence.
  • Homebuyer education: a homebuyer education and counseling class, through a HUD-certified counselor or agency.
  • Credit score: no consortium-wide minimum credit score is stated.
  • Underwriting: housing costs at or below 30% of gross income, debt-to-income ratios that meet standard underwriting guidelines, and the ability to repay.
  • Price: the purchase price must not exceed applicable HUD limits.

The administering member makes the final decision on who qualifies.

Do You Have to Pay Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance Back?

The record does not say whether the help is a grant or a loan, and it gives no interest rate or forgiveness period. It does say that all homebuyer down payment and closing cost assistance is subject to HOME recapture provisions.

The consortium manual lets each member structure recapture around its own program design. Options it lists include recapture of the entire HOME investment, a pro-rata reduction during the affordability period, shared net proceeds, and returning the owner's investment first. The structure that applies to you is set by the administering member and your loan documents.

What Mortgages Work With Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

The consortium manual does not list FHA, VA, USDA, conventional or other mortgage types. It requires you to qualify for a first mortgage through a lending entity approved by the member administering the assistance. Ask the member which lenders it approves before you choose one.

Where Is Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance Available?

The consortium covers Cabarrus County, Iredell County and Rowan County. Help is administered by the members, which determine availability within their own jurisdictions, so confirm with the member serving the property's address.

Alamance CountyAlexander CountyAlleghany CountyAnson CountyAshe CountyAvery CountyBeaufort CountyBertie CountyBladen CountyBrunswick CountyBuncombe CountyBurke CountyCabarrus CountyCaldwell CountyCamden CountyCarteret CountyCaswell CountyCatawba CountyChatham CountyCherokee CountyChowan CountyClay CountyCleveland CountyColumbus CountyCraven CountyCumberland CountyCurrituck CountyDare CountyDavidson CountyDavie CountyDuplin CountyDurham CountyEdgecombe CountyForsyth CountyFranklin CountyGaston CountyGates CountyGraham CountyGranville CountyGreene CountyGuilford CountyHalifax CountyHarnett CountyHaywood CountyHenderson CountyHertford CountyHoke CountyHyde CountyIredell CountyJackson CountyJohnston CountyJones CountyLee CountyLenoir CountyLincoln CountyMcDowell CountyMacon CountyMadison CountyMartin CountyMecklenburg CountyMitchell CountyMontgomery CountyMoore CountyNash CountyNew Hanover CountyNorthampton CountyOnslow CountyOrange CountyPamlico CountyPasquotank CountyPender CountyPerquimans CountyPerson CountyPitt CountyPolk CountyRandolph CountyRichmond CountyRobeson CountyRockingham CountyRowan CountyRutherford CountySampson CountyScotland CountyStanly CountyStokes CountySurry CountySwain CountyTransylvania CountyTyrrell CountyUnion CountyVance CountyWake CountyWarren CountyWashington CountyWatauga CountyWayne CountyWilkes CountyWilson CountyYadkin CountyYancey County
Covers Cabarrus County, Iredell County and Rowan County. Where the program applies, from its approved record.

How to Apply for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance

Apply through the consortium member serving the property's jurisdiction, following that member's announced intake process. The manual requires each member's marketing plan to state where, when and how applications are accepted.

1. Contact the member for the city or county where you want to buy. 2. Complete a homebuyer education and counseling class. 3. Line up a first mortgage through a lender the member approves.

The lead entity's page is at the City of Concord federal grant programs page. You can also see which programs may fit you.

Is Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance Funding Open Right Now?

Its funding status is unknown. On 2026-09-24 the official sources reviewed did not state that member-administered household down payment assistance is currently open across the consortium. Check with the member serving your address.

Questions about Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance

What is the income limit for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

Households must be at or below 80% of area median income, as determined by HUD. The limit depends on the county and household size.

Does Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance have a set assistance amount?

The record states no set amount for the whole consortium. Each member structures its own homebuyer assistance, so ask the member serving your address.

Can repeat buyers use Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

The manual requires a first-time buyer to have not owned a home during the previous three years, with exceptions for a displaced homemaker or single parent. Whether members help other buyers is not stated.

Do you have to pay back Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

All homebuyer assistance is subject to HOME recapture provisions. The applicable structure is set by the administering member and your loan documents.

Where is Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance available?

It covers Cabarrus, Iredell and Rowan counties, and each member city or county decides how assistance is offered in its jurisdiction.

Is there a minimum credit score for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

No consortium-wide minimum credit score is stated. You must show ability to repay and meet standard debt-to-income underwriting guidelines.

Do I need homebuyer education for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance?

Yes. First-time buyer assistance requires a homebuyer education and counseling class through a HUD-certified counselor or agency.

Complete Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance program record

The nineteen things a buyer needs to know, in the same order on every program page, each checked against the program’s official sources. Where the program does not state one, this says so.

  • 19 program details reviewed; 15 stated by the program
  • 3 official sources checked from City of Concord, City of Concord / Cabarrus-Iredell-Rowan HOME Consortium
  • Last verified September 25, 2026
  • Current funding status could not be confirmed
View all 19 verified program details ↓

  1. 1 of 19

    Program name

    Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance

    From the official source
    • “The Cabarrus/Iredell/Rowan HOME Consortium was formed in 2005 for the purpose of cooperatively providing safe, decent and affordable housing to low- and moderate- income citizens living within eight (8) adjacent local governments”

      https://concordnc.gov/departments/planning/community-development/federal-grant-programs · Federal Grant Programs page > Home Investment Partnerships Program (HOME) > Cabarrus/Iredell/Rowan HOME Consortium

    • “Eligible activities include the construction of affordable single-family and rental housing, property acquisition, the purchase/rehab/resale of affordable housing and down payment assistance for low- and moderate-income, first-time homebuyers.”

      https://concordnc.gov/departments/planning/community-development/federal-grant-programs · Federal Grant Programs page > Home Investment Partnerships Program (HOME) > Cabarrus/Iredell/Rowan HOME Consortium

  2. 2 of 19

    Who runs it

    City of Concord Community Housing Department

    (704) 920-5152

    From the official source

  3. 3 of 19

    Kind of help

    Member-administered HOME homebuyer gap financing that may be used for closing costs and/or down payment assistance.

    From the official source
    • “In addition to the educational resources on housing and financial literacy that the counseling program provides, home buyer assistance may also provide for some gap financing to make purchases more affordable in the forms of closing costs and/or down payment assistance.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 50 > Homebuyer Program Policies

  4. 4 of 19

    Maximum amount

    The program does not state this. Ask the administrator before relying on it.

  5. 5 of 19

    Amount tiers

    The program does not state this. Ask the administrator before relying on it.

  6. 6 of 19

    Forgiveness, interest and term

    All homebuyer down payment and closing cost assistance is subject to HOME recapture provisions. The Consortium manual states that members structure recapture based on their homeownership program design and market conditions and lists options including recapture of the entire HOME investment, pro-rata reduction during the affordability period, shared net proceeds, and returning the owner's investment first; the applicable structure is set by the administering member and loan documents.

    From the official source
    • “For all homebuyer down payment and closing cost assistance and housing development subsidies that cause the unit to be sold below fair market value projects, a recapture provision shall be utilized. These subsidies represent a direct subsidy to the homebuyer.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 47 > Recapture > Recapture Provisions

    • “The Consortium Members will structure its recapture provisions based on its Homeownership Program design and market conditions.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 48 > Recapture Options

    • “Recapture Options: The Consortium Members can use the following options regarding the recapture of HOME funds: Recapture Entire Amount: The Consortium Members may recapture the entire amount of the HOME investment from the homeowner. Reduction during Affordability Period: The Consortium Members may reduce the HOME investment amount to be recaptured on a pro rata basis for the time the homeowner has owned and occupied the housing measured against the required affordability period.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 48 > Recapture Options

  7. 7 of 19

    Income limit

    Household income up to 80% of the area median income for your county and household size.

    Homebuyer households must be at or below 80% of area median income, as determined by HUD.

    From the official source

  8. 8 of 19

    First-time buyer rule

    Yes, with exceptions.

    The Consortium manual requires a first-time homebuyer to have not owned a home during the previous three years and identifies exceptions for a displaced homemaker or single parent who owned or resided in a home owned by a spouse.

    From the official source
    • “First-time home buyer: Applicant must not have owned a home during the previous 3 years prior to receiving federal funds excluding: A displaced homemaker who owned a home with his or her spouse or resided in a home owned by the spouse. A single parent that owned a home with his or her spouse or resided in a home owned by the spouse.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 43 > Homebuyer Eligibility

  9. 9 of 19

    Maximum home price

    The program does not state this. Ask the administrator before relying on it.

  10. 10 of 19

    Other must-know rules

    You must live in the home as your primary residence.

    Consortium-wide homebuyer policies require the buyer to occupy the property as the primary residence, qualify for a first mortgage through a lending entity approved by the administering Consortium Member, complete qualified homebuyer education and counseling, demonstrate ability to repay, keep housing costs at or below 30% of gross income, and meet standard debt-to-income underwriting guidelines. The maximum purchase price must not exceed applicable HUD limits.

    From the official source
    • “To qualify for homebuyer assistance, individual participants must complete a comprehensive housing counseling program through a HUD-certified counselor or agency.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF pp. 50-51 > Homebuyer Program Policies

    • “Qualify for a first mortgage through a lending entity approved by the Consortium Members; and Have completed a qualified homebuyer education and counseling class, and be able to demonstrate ability to repay the loan. The maximum price of the purchased home cannot exceed those limits published by HUD. The prospective homeowner’s housing costs cannot exceed 30% of their gross income and debt-to-income ratio limits must meet standard underwriting guidelines.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 51 > Homebuyer Program Policies

    • “To qualify for first-time homebuyer assistance the person must: Occupy the property as their primary residence;”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 50 > Homebuyer Program Policies

  11. 11 of 19

    Where it applies

    Cabarrus County, Iredell County, Rowan County.

    HOME Consortium Service Area: 3 Counties: Cabarrus, Iredell, and Rowan.

    Exceptions: The Consortium includes the City of Concord, Cabarrus County, Iredell County, City of Kannapolis, Town of Mooresville, City of Salisbury, City of Statesville, and Rowan County. Homebuyer assistance is administered by Consortium Members, which determine local program design, application intake, and availability within their jurisdictions.

    From the official source
    • “HOME Consortium Service Area 100 100 3 Counties: Cabarrus, Iredell, and Rowan”

      https://apps.concordnc.gov/legacy/PlanningWeb/CommunityDevelopment/CAPER2025-2026Draft.pdf · PDF p. 7 > CR-15 Resources and Investments > Table 4

    • “The Cabarrus/Iredell/Rowan HOME Consortium was formed in 2005 for the purpose of cooperatively providing safe, decent and affordable housing to low- and moderate- income citizens living within eight (8) adjacent local governments, which includes the City of Concord, Cabarrus County, Iredell County, the City of Kannapolis, the Town of Mooresville, the City of Salisbury, the City of Statesville, and Rowan County.”

      https://concordnc.gov/departments/planning/community-development/federal-grant-programs · Federal Grant Programs page > Home Investment Partnerships Program (HOME) > Cabarrus/Iredell/Rowan HOME Consortium

    • “The Consortium Members’ marketing approach must address: (1) how the program will be announced (i.e., through media and other sources); (2) where applications will be taken (i.e., at one site or more); (3) when applications will be accepted (i.e., daily, during normal working hours, or extended hours for a specified period); and (4) the method for taking applications (i.e., in person, by mail).”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 18 > Affirmative Marketing and Outreach

  12. 12 of 19

    Current funding status

    Funding status could not be confirmed.

    The lead-entity site documents an annual HOME allocation and the FY 2025-2026 CAPER reports consortium homeownership activity, but the official sources reviewed do not state that member-administered household down payment assistance is currently open across the consortium as of 2026-09-24.

    Checked 2026-09-24.

    From the official source

  13. 13 of 19

    How to apply

    Apply through the Consortium Member serving the property's jurisdiction according to that member's announced intake process. The Consortium manual requires each member's marketing plan to state where, when, and how applications are accepted; there is no single consortium-wide household application identified on the lead-entity page.

    From the official source
    • “The Consortium Members’ marketing approach must address: (1) how the program will be announced (i.e., through media and other sources); (2) where applications will be taken (i.e., at one site or more); (3) when applications will be accepted (i.e., daily, during normal working hours, or extended hours for a specified period); and (4) the method for taking applications (i.e., in person, by mail).”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 18 > Affirmative Marketing and Outreach

  14. 14 of 19

    Official source

    https://concordnc.gov/departments/planning/community-development/federal-grant-programs

  15. 15 of 19

    Dates

    The current Cabarrus/Iredell/Rowan HOME Consortium Policies and Procedures Manual is marked Updated: 09/10/2026 and Adopted: 12/14/2023.

    From the official source

  16. 16 of 19

    Report a mistake

    Use the form on this page.

  17. 17 of 19

    Credit requirements

    No consortium-wide minimum credit score is stated. The manual requires the prospective homebuyer to demonstrate ability to repay, limits housing costs to 30% of gross income, and requires debt-to-income ratios to meet standard underwriting guidelines.

    From the official source
    • “Have completed a qualified homebuyer education and counseling class, and be able to demonstrate ability to repay the loan. The prospective homeowner’s housing costs cannot exceed 30% of their gross income and debt-to-income ratio limits must meet standard underwriting guidelines.”

      https://concordnc.gov/LinkClick.aspx?fileticket=ozou9F-AV7k%3D&portalid=0 · PDF p. 51 > Homebuyer Program Policies

  18. 18 of 19

    Eligible loan types

    The consortium manual does not list FHA, VA, USDA, conventional, or other mortgage types; it requires qualification for a first mortgage through a lending entity approved by the Consortium Member.

    From the official source

  19. 19 of 19

    Homebuyer education

    Required.

    Individual participants must complete a comprehensive housing counseling program through a HUD-certified counselor or agency, and first-time homebuyer assistance requires completion of a qualified homebuyer education and counseling class.

    From the official source

Report a mistake

If a figure here does not match the program’s own terms, tell us. Every report is read by a person and checked against the official source before the record changes.

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Official sources for Cabarrus/Iredell/Rowan HOME Consortium Down Payment Assistance

The facts on this page were taken from these sources. Read the program’s own terms there before you rely on a figure.

Visit the official source →

Program rules can change. Confirm current terms with City of Concord Community Housing Department or a participating lender before you rely on a figure. Record version 1.

Educational information, not a loan offer or an eligibility decision. Read the disclaimer or how we verify programs.