First-Time and Move-Up Home Buyers
Buying house could be overwhelming and complicated. It’s our objective making it easier by providing affordable home loan options and linking you with experienced real estate partners.
Advance Payment Assistance
For both first-time and move-up home purchasers, our NC Residence Advantage Mortgage™ provides qualified individuals with stable, fixed-rate mortgages and deposit support as much as 5 per cent associated with loan quantity. The Agency now offers 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 y our advance payment options is needed only when you offer, refinance or transfer your property 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, if you should be a first-time customer or perhaps a army veteran, you may qualify to mix the NC Residence Advantager Mortgage™ utilizing the NC Residence Advantage Tax Credit that could conserve you as much as $2,000 each year in your federal fees in the event that you use and are also authorized for the Mortgage Credit certification by the NC Housing Finance Agency just before your house purchase. (This can not be combined with NC 1 st Residence Advantage advance payment. )