Asheville City Council Adopts Down Payment Assistance Program Using Bond Funds for Homebuyers

Asheville City Council moved forward with plans to make homeownership more accessible for low and moderate-income residents and city staff in neighborhoods across the city. During its February 26 meeting, the Council adopted a Down Payment Assistance Policy resolution.

This resolution marks a significant step toward utilizing funds from the City of Asheville's affordable housing bond referendum. The bond aims to address housing affordability by providing financial assistance to those who qualify, helping them overcome one of the primary barriers to purchasing a home in this vibrant mountain city.

The newly adopted policy will guide the implementation of the Down Payment Assistance Program, outlining the criteria and processes for distributing these bond funds. This initiative directly supports the city's goal of expanding homeownership opportunities within the diverse communities of Asheville.