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down payment assistance: Concord NC $5,000 Downpayment Assistance Program - 02/20/11 12:28 AM
This Down Payment Assistance Program is provided through the City of Concord's Business and Neighborhood Services Division, which receives HOME Investment Partnership Funds, allocated annually through the Department of Housing and Urban Development (HUD).
Home buyers can receive a depreciating loan of up to $5,000 to put towards their down payment, prepaids, or closing costs. Applicants of this program must be a first-time homebuyer and have annual incomes that do not exceed eighty-percent (80%) of the median income of the area. If you haven't owned a home in the past 3 years, you are considered a 1st time home buyer for the purposes … (3 comments)
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down payment assistance: FHLB Grant for NC 1st Time Homebuyers Down Payment Assistance - 01/29/11 12:11 AM
Many people haven't heard of the FHLB (Federal Home Loan Bank) grant program for 1st time home buyers in North Carolina, so I thought I'd share information about this great program. Similar programs may be available in other states.
This program is only available through member banks of the Federal Home Loan Bank (FHLB) system. The only participating NC banks that I am aware of are RBC Bank and Monarch Mortgage. As of today, both of these lenders have their 2011 funding for this program. I know loan officers with both of these lenders, so let me know if you need a good loan officer to … (4 comments)
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down payment assistance: $8000 tax credit as downpayment... HUD says program NOT killed! - 05/21/09 11:58 AM
According to my lender sources and The Arizona Herald article "HUD says bridge-loan program hasn't been killed", HUD is still moving forward with a plan to let first-time homebuyers use the currently available tax credit of up to $8,000 as collateral for "bridge loans" to cover the down payment on FHA insured mortgages.
According to the article, HUD spokesperson Brian Sullivan stated that the program details haven't been finalized and would not say when the bridge-loan program would be initiated, or whether it would be substantially different from what originally was announced.
Let's all keep our fingers crossed that this program will be … (9 comments)
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down payment assistance: HUD withdraws option to use $8000 tax credit as down payment... at least for now - 05/19/09 12:07 PM
There's been a lot of buzz in the real estate and mortgage industries about FHA allowing home buyers to use the $8000 tax credit as a down-payment. However, in this case the government giveth and the government taketh away!
Tuesday May 12, 2009, in an address to several thousand REALTORS® gathered at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, DC, HUD Secretary Shaun Donovan said that FHA was going to enable home buyers to access the $8,000 tax credit at closing, so the funds can be used as a down payment. This was to … (0 comments)
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Cheryl Powell- SFR,ABR,Broker,Realtor- Remax Executive - Concord NC Real Estate
Concord,
NC
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RE/MAX Executive - The Powell Team
Address: 7752 Gateway Lane, Suite 204, Concord, NC , 28027
Office Phone: (704) 979-7028
Cell Phone: (704) 363-8902
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