The City of Durham Neighborhood Incentive Program (NIP) offers financing assistance for first-time homebuyers and lead-abatement assistance and homebuyer financing assistance in targeted neighborhoods. 

Contributing properties in the East Durham National Historic Register District are also eligible for the North Carolina Historic Preservation tax credit.

Neighborhood Incentive Program

The First-time Homebuyer Program may pay up to $20,000, or 20% — whichever is less, toward a home purchase for first-time homebuyers. The program also offers a low 2% interest rate in conjunction with a buyer contribution of $500. The borrower is responsible for securing first mortgage financing.  

Under the NIP program, income-eligible  buyers of properties built before 1978 in targeted neighborhoods could qualify for a second mortgage of up to $30,000 (at 2% interest on a 30-year term), as well as an $8,000 grant toward HUD-required lead abatement when a child age 6 or younger to resides at or visits the property more than 20 hours a week.    

For more information on the City of Durham's Neighborhood Incentive Program call Preservation NC at 919-401-8540 or contact the Dept. of Community Development at 919-560-4000 or www.durhamnc.gov/departments/comdev/buy_a_home.cfm. 

Historic Preservation Tax Credits

Properties located in the East Durham National Register Historic District and thereby a candidate for the 30% state historic tax credit for the rehabilitation of owner occupied homes that are certified historic structures (non-income producing properties). For more information on Historic Rehabilitation Tax Credits call us at 919- 832-3652 to request our brochure Using Preservation Tax Credits to Renovate Your Home or Business Property, or contact the North Carolina State Historic Preservation Office at 919-807-6570 or at www.hpo.dcr.state.nc.us.