First-Time and Move-Up Home Purchasers
Investing in home may be overwhelming and complicated. It really is our objective to really make it easier by providing mortgage that is affordable and linking you with experienced property partners.
Advance Payment Assistance
Both for first-time and move-up house purchasers, our NC Residence Advantage Mortgage™ provides qualified individuals with stable, fixed-rate mortgages and advance payment support up to 5 % of this loan quantity. The Agency also provides an $8,000 advance payment assistance option—the NC 1 st Residence Advantage Down Payment—just for first-time purchasers and veterans that are military meet extra eligibility requirements.
Payment of most of our advance payment options is necessary as long as you offer, refinance or transfer your house before 15—the down payment assistance is forgiven at 20 percent per year at the end of years 11-15, with complete forgiveness at the end of year 15 year.
As an extra bonus, up to $2,000 per year on your federal taxes if you apply and are approved for a Mortgage Credit Certificate by the NC Housing Finance Agency prior to your home purchase if you are a first-time buyer or a military veteran, you may also be eligible to combine the NC Home Advantager Mortgage™ with the NC Home Advantage Tax Credit which could save you. (This can’t be combined with NC 1 st Residence Advantage advance payment. )
We provide the products through participating loan providers statewide.
Desire to discover more very very first? Watch the video below about how exactly the NC Home Advantage Mortgage™ might be your mortgage that is perfect match. And then begin to see the eligibility big picture loans near me demands with this web page to see in the event that you might qualify and also to learn to get going. Continue reading