Up to $8000 in First-Time Homebuyer assistance is available.
Today our newest down payment program has launched and is available state-wide for first time home buyers.
The NC 1st Home Advantage Down Payment is an $8,000, 2nd mortgage at 0% interest. Below are the basic details on the program.
Key Program Summary:
$8,000 2nd lien; 15-year subordinate loan
• Deferred years 1-10; forgiven at 20% a year in years 11-15.
• Max sales/acquisition limit is $250,000
• Income limits are gross, total household income and vary by county and household size (same as MCC program)
• Both new and existing homes are eligible
• Available for all 100 counties – statewide
• Max 43.0% DTI
• Interest rate on 1st mortgage may vary daily; see www.nchfa.com daily for rates starting 3/1/2018
• Must be a first-time home buyer or qualifying military veteran (non-active duty)
• 60-day locks.