The Blog ofThe Cox Team

$8,000.00 Down Payment Assistance Program is here!!!!

NC 1st Home Advantage Program provides an $8,000.00 down payment assistance begins March 1, 2018! Want to see if you qualify?  Contact me and we will help you reach out to a trusted lender to get you qualified.

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)
  • The new $8,000 DPA cannot be combined with an MCC or the 3%/5% DPA from NCHFA
  • No Manufactured Homes

Don’t wait! Take advantage of this great opportunity today!