North Carolina First Time Home Buyer Loan!

By
Real Estate Agent with Prostead 268572

The NCHFA has launched a new home loan today that will greatly assist First Time Home Buyers! $15,000 will be granted to the buyer as long as the meet certain criteria and will be fully forgiven after year 5 (20% each year). This is huge when you consider that a lot first time home buyers run into the issue of scraping together their down payment. This loan is only available in five counties in NC (Cabarrus, Mecklenburg, Guilford, Johnston, and Cumberland). 

 

Is the Buyer Eligible? 

1. First Time Home Buyer or Military Veteran (Qualify as first time home buyer if you haven't owned a home in the last 36 months)

2. Credit Score of 640 or Higher 

3. Annual Income Doesn't Exceed Limits (depends upon which county you are looking in). 

 

Is the Property Eligible?

1. Cannot Be New Construction

2. Purchase Price Cannot Exceed $245,000

Comments (1)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

This is a great loan program for FTHB's to utilize; I am sure most of them don't know this program is available. Thanks for sharing I hope you have a great week ahead.

Oct 17, 2016 04:53 AM