At Mosaic Realty, we understand that housing is expensive and out of reach for many hardworking people. Asheville has a number of programs to help facilitate homeownership for a range of budgets. You will find a list of these helpful resources below. Additionally, we have created this Affordable Homes Quick Search feature for you to begin to explore homes. We also encourage you to contact us so that we can help you navigate your options and assist in your search for housing. Mosaic Realty has agents trained in affordable housing who are ready to help you.
This organization offers financial education, counseling and support to help people reach their money and housing goals so they can overcome crises, afford basic needs, improve money management skills and make sound financial choices.
If you are considering buying a home, OnTrack’s Homebuyer Education is an invaluable investment providing a comprehensive foundation for the homebuying process. The HUD-certified course – offered in-person or online – teaches all the details in the process of buying a home, provides you with a better idea of where you stand in the process, and informs you on what you need to do to achieve homeownership. If you choose the in-person class, you’ll also hear from local professionals including a realtor, lender, inspector and closing attorney, and learn about local programs for down-payment assistance.
Mountain Housing Opportunities
Mountain Housing Opportunities (MHO) provides low to moderate-income working families the opportunity to own new or existing homes in Buncombe, Henderson, Madison and Haywood counties.
MHO offers several programs to help families achieve the dream of homeownership. To participate, families or individuals must fall within certain income guidelines, and have stable employment and good credit.
MHO programs include a Turn-Key Homeownership Program, which offers new, energy-efficient homes with built-in, no-interest, deferred financing in amounts up to 30% of the purchase price.
MHO also provides a Downpayment Assistance Program, which can fill the cash gap between the amount of your first mortgage and the total cost to purchase a home. While these loan funds can be used for a downpayment, they can also be used to cover closing costs or to simply increase your purchasing power.
MHO’s Self-Help Homeownership Program brings together a group of four to six qualifying families to work cooperatively to build their homes under the guidance of an MHO construction supervisor. All homes are financed with low-interest USDA mortgages, which along with the “sweat equity” construction hours put in by the homeowners, reduces the cost of the homes. With the Self-Help program, neighbors work alongside one another to build a community from the ground up.
City of Asheville and Buncombe County
Government programs are in place in WNC to promote the construction of affordable housing.
The City of Asheville’s Housing Trust Fund was created in 2000 to provide a source of local funding to assist in the development of affordable housing in Asheville. Assistance is available in the form of repayable loans at a low rate of interest. The City of Asheville encourages those who apply for Housing Trust Funds to pursue opportunities to include green technology, energy-efficient and sustainable practices in their housing development proposals.
Buncombe County works in partnership with several non-profit housing agencies and local municipalities to assist with the creation of affordable housing opportunities. Its Community Oriented Development (COD) program is available to developers through the Buncombe County Zoning Ordinance. This program awards significant density bonuses for developments that include affordable and workforce housing in their design, as well as including other features and amenities recognized through the three categories of sustainability: community, environment/transit, and economy.
Through its Affordable Housing Services Program, the county has assisted nonprofit and private developers in leveraging funds to provide affordable housing. Established in 2004, the AHSP has supported the creation of single-family homes and multi-family rental units, as well as provided aid through tenant-based rental assistance, downpayment assistance, emergency repair, employee housing assistance, and permit fee rebates.
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