Special offer

N.C. Home Advantage™

Mortgage and Lending with Universal American Mortgage Company NMLS 46083

I am pleased and excited to introduce the newest product from North Carolina Housing Finance Agency: the N.C. Home Advantage Mortgage™.  Unlike the old $8k DAP program, which was complicated and time consuming, this new program is streamlined and simple.  Some major bullet points are:



·      3% down payment assistance.Down Payment Assistance


·      DAP is forgiven after 15 years


·      640 minimum FICO score.North Carolina Housing Finance Agency LOGO


·      $85,000 maximum income limit.


·      No program limit on purchase price.


·      Used with FHA, USDA or VA.


The 3% DAP is deferred for the first 10 years and for years 11-15 the loan is forgiven at 20% per year.  The $85,000 maximum income limit is for all counties of North Carolina, regardless of family size, and it only applies to borrowers’ income not household income.  N.C. Home Advantage™ is restricted to the purchase of a primary residence only.  Manufactured homes, second homes and investment properties are not allowed.

I believe most of these loans will be used with a FHA first mortgage.  FHA has a minimum requirement of 3 ½% down.  If the borrowers have a 3% DAP then only ½% more will be needed.  I will repeat this; the borrower may be able to do an FHA 30 year fixed rate mortgage with only ½% down payment from their own funds.


Who Can You Call For Your Mortgage Needs in North Carolina?

Call Shay Campbell a licensed Loan Officer, NMLS# 46083, located in the Triangle area of NC, which includes Raleigh, Cary, Durham, Chapel Hill, Apex, Holly Springs, RTP and the counties of Wake, Durham, Johnston, Chatham and Orange.  Shay has over 14 years of originating experience in North Carolina and can assist you with FHA, VA, USDA, NCHFA and conventional loans.  He has a special interest in working with first time home buyers.  Shay can be contacted at 919-624-8614, shay@shaycampbellmortgage.com  or visit his website at shaycampbellmortgage.com.