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Homebuyer Programs in Cary, North Carolina (2026)

Est. City Population

183,582

Median Home Price

$620,000

Est. Closing Costs

$15,500

By Tyler Thompson · NC Licensed Agent · Updated May 22, 2026

Cary is a 183,582-resident town in Wake County, the western anchor of the Raleigh and Research Triangle economy. The population grew 5 percent since 2020 on the strength of SAS Institute, the world's largest privately held software company, plus Epic Games (ranked 17th nationally on the Forbes 2026 mid-size employer list) and MetLife. The median sales price reached $620,000 in April 2026, down 8.1 percent year over year, making North Carolina's most educated town slightly more reachable than during the prior expansion.

For first-time buyers, the more attainable entry points sit in southeast and central Cary. Lochmere offers townhomes starting in the mid $300,000s near Regency Park. Cary Park wraps a 28-acre lake with townhomes and starter single-family homes in the high $400,000s. Amberly spans 1,100 acres in west Cary with options in the mid $400,000s. Buyers priced out often look to nearby Apex, Morrisville, and Holly Springs, all under 10 miles away.

Unlike Raleigh and Durham, the Town of Cary does not currently fund a town-level down payment assistance program, and the Wake County Affordable Homeownership Program explicitly excludes properties inside the Township of Cary. Buyers still have strong state tools. The NC 1st Home Advantage Down Payment delivers $15,000 in forgivable assistance, and the NC Home Advantage Mortgage adds up to 5 percent of the loan amount. On a $450,000 starter home with a 3.5 percent Federal Housing Administration down payment, those two state programs together cover roughly $28,000 of the $27,000 combined down payment and closing costs.

Cary buyers can access 3 local nonprofit programs led by Habitat for Humanity of Wake County, 3 North Carolina state programs, and 7 federal mortgage options, for 13 paths to first-time homeownership inside Cary town limits.

Local Down Payment Assistance Programs

Programs below are administered locally and are specific to this city, county, or area nonprofits.

Nonprofit Programs

Habitat for Humanity Greater Raleigh Homebuyer Program
Affordable mortgage program with sweat equity partnershipAffordable mortgage with no down payment requiredFirst-time: Yes
NACA Homebuyer Program
Affordable mortgageNo down payment, no closing costs, no fees, below-market interest rateFirst-time: No
Raleigh Area Land Trust Shared Equity Homeownership
Shared equity community land trust modelPermanently affordable home purchase price (land held in trust)First-time: Yes

What Does Buying a $450,000 Home in Cary Actually Cost?

Purchase Price$450,000
Down Payment (3.5%)$15,750
Estimated Closing Costs$11,250
Total Cash Needed$27,000
minusNC 1st Home Advantage Down Payment (first-time buyer, forgivable)-$15,000
minusNC Home Advantage Mortgage (3 percent of loan amount)-$13,028
Your estimated out-of-pocket with maximum assistance$0

Example assumes a $450,000 starter townhome in Cary purchased with a Federal Housing Administration insured loan (3.5 percent minimum down payment). Loan amount after down payment is $434,250. Stacking the $15,000 forgivable NC 1st Home Advantage Down Payment with 3 percent down payment assistance from the NC Home Advantage Mortgage covers the $15,750 down payment and approximately $11,250 in estimated closing costs (2.5 percent of purchase price). Buyer must complete a homebuyer education course, have a credit score of 640 or higher, and meet North Carolina Housing Finance Agency income limits of $152,000 for Wake County. Funds are subject to reservation availability through participating lenders.

How to Apply for DPA Programs in Cary

  1. 1
    Step 1

    Check eligibility. State programs through the North Carolina Housing Finance Agency require a credit score of 640 or higher and a household income at or below $152,000 for Wake County. The NC 1st Home Advantage Down Payment additionally requires first-time buyer status (no homeownership in the past three years) or military veteran status, and limits the purchase price to $495,000. The NC Home Advantage Mortgage is open to first-time and move-up buyers.

  2. 2
    Step 2

    Complete a homebuyer education course. DHIC offers the Bringing Home the Dream 8-hour workshop in Raleigh, which is the most common provider for Cary residents. Register through DHIC at 919-832-4345. The course satisfies the education requirement for state and federal down payment assistance.

  3. 3
    Step 3

    Contact a counselor for a one-on-one session. The White Oak Foundation, located at 1621 White Oak Church Road in nearby Apex, is the closest United States Department of Housing and Urban Development certified counseling agency serving Cary. Reach them at 919-362-6799 or info@wofnc.org for credit review, budget planning, and program eligibility analysis.

  4. 4
    Step 4

    Get pre-approved with a North Carolina Housing Finance Agency participating lender. Visit nchfa.com for the current participating lender list. Your lender will determine the combination of NC Home Advantage Mortgage, NC 1st Home Advantage Down Payment, and NC Home Advantage Tax Credit you qualify for, and underwrite the chosen mortgage product (Federal Housing Administration, Department of Veterans Affairs, United States Department of Agriculture, or conventional).

  5. 5
    Step 5

    Find a home in Cary. To use the $15,000 NC 1st Home Advantage Down Payment, your contract price must be $495,000 or less, which generally limits options to townhomes, condos, and starter single-family homes in Lochmere, Cary Park, Amberly, and central Cary east of Cary Parkway. If your budget exceeds $495,000, use the NC Home Advantage Mortgage standalone, which has no purchase price cap.

  6. 6
    Step 6

    Submit applications and close. Your lender submits the down payment assistance reservation through the North Carolina Housing Finance Agency portal once you have a signed purchase contract. Reservations have limited annual funding and can pause when capacity is reached, so contract early in the calendar year for the best availability. Closing typically takes 30 to 45 days after contract acceptance. For Habitat for Humanity of Wake County homes, the timeline from application to closing averages 18 months, including 200 hours of sweat equity.

Housing Market in Cary

The Cary, Wake County housing market reached a median sales price of $620,000 in April 2026, down 8.1 percent from April 2025 but up 7.8 percent from March 2026, according to Doorify MLS data reported through Domus Analytics. Median days on market held at just 5 days, unchanged from a year ago, with sellers receiving 100.1 percent of asking price on average.

Active inventory climbed to 375 homes, up 19.4 percent year over year, and 310 new listings hit the market in April, a 15.2 percent annual gain. Closed sales totaled 175, up 33.6 percent from 2025. Months of supply sat at 2.1, still well below the 4 to 6 months that defines a balanced market.

For Cary buyers, April 2026 means more selection than the past two springs without the price runs of 2021 through 2023. Well-priced homes still move within a week, so financing readiness and homebuyer education completion matter. Data sourced from Blue Orchid Realty summarizing Doorify MLS data through Domus Analytics.

Frequently Asked Questions About DPA in Cary

How much down payment assistance can I get in Cary?
Cary does not currently fund a town-level down payment assistance program. First-time buyers in Cary typically stack the NC 1st Home Advantage Down Payment ($15,000 forgivable) with the NC Home Advantage Mortgage (up to 5 percent of the loan amount). On a $450,000 purchase, that stack delivers roughly $28,000 in combined assistance. Habitat for Humanity of Wake County offers an alternative path with no down payment requirement on Habitat-built homes for buyers earning 30 to 80 percent of Area Median Income. The Neighborhood Assistance Corporation of America provides no down payment, no closing costs, and below-market interest rates with a Raleigh-area office serving Cary.
What credit score do I need for down payment assistance in Cary?
The NC Home Advantage Mortgage and NC 1st Home Advantage Down Payment both require a minimum credit score of 640. The Federal Housing Administration loan program accepts scores as low as 580 with 3.5 percent down or 500 with 10 percent down. Habitat for Humanity of Wake County does not publish a fixed minimum but evaluates each application individually, weighing steady income, payment history, and total debt. The Neighborhood Assistance Corporation of America uses character-based underwriting and does not set a minimum credit score, focusing on 12 months of on-time rent and bill payments instead.
Can I combine Cary programs with North Carolina state programs?
Yes. Cary buyers commonly stack the $15,000 forgivable NC 1st Home Advantage Down Payment on top of 3 to 5 percent down payment assistance from the NC Home Advantage Mortgage, all administered by the North Carolina Housing Finance Agency. The NC Home Advantage Tax Credit, commonly called the Mortgage Credit Certificate, can layer on top for first-time buyers, delivering up to $2,000 per year in federal income tax savings for the life of the loan. Habitat for Humanity of Wake County homes typically use their own affordable mortgage rather than stacking state programs.
What is the maximum home price for Cary assistance programs?
The NC Home Advantage Mortgage has no purchase price cap and follows the loan limits of the chosen mortgage product (Federal Housing Administration, Department of Veterans Affairs, United States Department of Agriculture, or conventional). For 2026 in Wake County, the conventional conforming loan limit is $832,750 and the Federal Housing Administration limit is $552,000. The NC 1st Home Advantage Down Payment caps eligible purchases at $495,000. Given the $620,000 April 2026 median in Cary, many buyers must look at townhomes or condos under $495,000 to qualify for the $15,000 forgivable program.
Why does the Wake County Affordable Homeownership Program exclude Cary, and what should Cary buyers do instead?
The Wake County Affordable Homeownership Program is funded with federal HOME Investment Partnerships Program dollars passed through Wake County, and the funding rules exclude properties inside the Township of Cary because Cary receives its own direct Community Development Block Grant entitlement from the United States Department of Housing and Urban Development. Cary buyers can instead contact DHIC at 919-832-4345 to enroll in the Bringing Home the Dream homebuyer education course required for state programs, or reach the White Oak Foundation at 1621 White Oak Church Road, Apex, NC 27523 by phone at 919-362-6799 or email info@wofnc.org for one-on-one counseling.
Program details, funding availability, and eligibility requirements change frequently. Always verify directly with the program administrator. This site is for educational purposes only. Not financial advice.