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!