If you are ready to move out on your own, and Kiss Your Landlord Good-bye… CONGRATULATIONS! Earlier this year the newest part of the Government’s program to help people buy a house went into place! NC First Time Home Buyers definitely have an advantage, and we offer all of the First Time Home Buyer NC programs that can help you with your first home!
As mortgage interest rates continue to climb every so slowly in the spring of 2016, these Government First Time Home Buyer programs are more important than ever.
Not every Bank offers them, but the NCHFA Programs increase buyer qualifications – allowing folks who have been renting to purchase a slightly larger house than they would otherwise be able to buy… with very few out-of-pocket expenses – using the NC First Time Home Buyer Program.
Erica Anderson, the Broker Owner of Team Anderson Realty in Holly Springs, said it would be pretty common for people sitting on the fence to get motivated by mortgage interest rates creeping up this summer.
“When we see an uptick in interest rates, people start to get that feeling that they might have missed the bottom of the market — which they have already. But sometimes fear is an important factor in buying property,” she said. “The interest rates are still very, very good, and people who want to buy a home, if they can, should be out there trying to buy.”
The low rates and tight supply also have lured buyers back into the first time home buyer market. Because of the purchase power these low rates have afforded first time home buyers in NC, the hike in rates is likely to serve as an additional motivating factor for drawing buyers into the market.
If you are ready for your First Home, there are some basics we think you should consider as you are starting the process to look for a home. Here are FIVE THINGS we think every First Time Home Buyer should consider before making that move:
- When you buy a House – you get a Raise! Uncle Sam definitely sees benefits in having homeowners, so you get to “write off” the interest you pay each month on your taxes! We advise First Time Home Buyers to see a tax professional, and consider changing your W-4 when you purchase! This way, instead of the government giving you a $2400 refund… you get a $200 RAISE! (seriously, you can bring home more each month and not owe on April 15!)! We also offer the MCC | Mortgage Credit Certificate for those who qualify. This program actually DOES change your W-4, but it does not diminish the tax credit that you can write off each Spring. It’s an ADDITIONAL Tax Credit available for those who have been renting for the last 3 years in NC.
- You CAN get into a house with absolutely no pennies out-of-pocket – but it’s HARD. We would suggest that you have at least $1500 if you want to buy a house. There are really 3 buckets that your costs associated with buying the home will fall into.
- Down payment: Conventional loans and FHA loans have the highest threshold for down payment, requiring 3.5%. For FHA loans, this money can be a gift, and they allow a family member to co-sign with you to buy the house (without them having to live with you). USDA Home loans are available in every county in NC, and they require ZERO down payment. The payments on this owner occupied program are super low too because USDA has the lowest PMI rates offered, often times saving homeowners $200 a month or more over a FHA loan. Because USDA Home Loans are designed for more rural parts of our state, you just need to be okay with living on the “outskirts” of town. If you have Veteran benefits you will not need any money for a down payment when you apply for a VA Loan. Even if you’ve used your entitlement, you might still qualify for the program.
- Closing Costs: We can help you structure your contract so that the Seller is paying most of your Closing Costs, the trick is with wording the Seller Concessions correctly for the Underwriters. There are some of these fees that the Seller “can’t” pay, or won’t pay. You should be prepared to pay for the Inspection of the home, you will have to pay for your Home Owners Insurance, and your part of the taxes. Depending on what time of year you are closing, you could need as few as 4 months of taxes, or as many as 9. So there’s no way for me to give you an exact figure. We, as the Lender can also absorb some of your closing costs with the mortgage loan. There are other sources for help with closing costs and down payment. We offer the NC Affordable Housing Agency Program. Those who qualify can receive up to a 3% Grant! This money can be used towards your Down payment, or your closing costs, has no monthly payments, and is forgivable over time. It is designed to help folks who have been renting for the last three years.
- The Actual Move: You are going to want to have some cash to turn on appliances, buy a refrigerator (if you don’t negotiate one) and maybe buy some new shelf paper. Yeah, you could charge part of this – but having a “little” nest egg so that you can buy beer and pizza for the guys that help you actually move everything to your new place is a great idea. Having an amount equal to 2 house payments after you close on your home is the minimum we suggest. But if you are super tight on cash, don’t get too worked up … you skip a payment when you buy a house! When you buy a house, let’s say you close on June 25th – you pay interest at closing from June 25th thru June 30th. You live in your home during the month of July, and your first payment isn’t until AUGUST! Woot! Woot!
- Go ahead and meet with us (your Lender) EARLY in the process! Let us peek at your credit, look at your paystubs and give you an honest assessment about your decision to purchase! You might think you have to wait 6 months – and we might be able to tell you NOW is the time! Even if it IS six months – let us talk to you about the taxes, and insurance and the tax benefits! Let us HELP YOU get your credit in order – this is what we do all day, and we don’t charge for that help! (Here are some questions to ask your lender!)
- Use a Real Estate Agent (period). You will NOT get a better deal without one. Do NOT go to a new home Community and think that the sales person there is going to help you get the best deal… get a Real Estate Agent that is working for YOU. That does NOT mean that you have to pay for them – you don’t… but they work on YOUR behalf! (We know some GREAT ONES!) The right Real Estate agent is going to be critical in helping you structure an offer to purchase that is accepted, and for the best terms. Especially now that Real Estate prices are headed up – use an Agent!
- Don’t believe everything you hear on the News! There are SOME foreclosed homes available, but we don’t have as many distressed homes here as there are in other parts of the country and the bidding for those homes is fierce. As we said earlier, mortgage interest rates have gone up in the past few weeks, and so have the prices on houses. Because we now have a shortage of homes on the market in most of North Carolina – we are seeing bidding wars for houses in the Raleigh, NC area!
The Raleigh and Cary Real Estate market will continue to be a great investment because we have over 20 Colleges and Universities in the area, State Government (the Capitol) and MAJOR World Class Hospitals! Other NC real estate markets will continue to see improvement for the exact same reasons, including Charlotte and Greensboro. As the Economy continues to improve, real estate prices in NC will continue to climb. The time to buy is NOW!
We offer first time home buyer programs through our North Carolina Affordable Housing Agency that provides specific assistance for folks who have been renting for the last three years. The NC First Time Home Buyer program offers:
- allows you to purchase a home with a below market mortgage rates,
- a forgivable grant of up to 3% to cover your down payment or closing costs,
- Low Closing Costs fees and little or no money out-of-pocket,
- and it can help you qualify for a larger home while providing you with additional Mortgage Tax Credits!
The NC Affordable First Time Home Buyer program changed in May of 2013, and is now open to anyone who has not owned a home as a primary residence within the last three years. This works great for folks who owned a property in another area and moved to find a job. Having that rental property does not mean that you will not qualify for the program as long as you’ve been renting for the last three years.
The NC Affordable Housing Agency Program works in partnership with FHA, VA, USDA and Conventional loans. It’s an additional benefit offered to those who qualify and have been renting in NC. You might qualify for a 3% forgivable government GRANT that will help you buy a home!
So Relax! NC First Time Home Buyer Programs can help you do this! Buying your First Home in NC is FUN! Call Steve and Eleanor Thorne, Best Mortgage Rates in Cary NC, 919-649-5058. Connect with us on Google Plus and Facebook 🙂
Hi Eleanor. I am interested in buying a home because I am tired of renting, and I want to have a place of my own. I have never bought a home, and I really don’t know where to start. Could you possibly point me in the right direction?
I’m looking to move to the Belmont/Mount Holly area of NC.
Any help would be greatly appreciated!
Thanks,
Jonathan
Jonathan – later this week, NC is coming out with a new program for first time homebuyers. In your area, we could see a change in the USDA Maps in March – but in general, a combination of the NCHFA program and the USDA Home Loan program will mean that you can purchase a home with very little cash out of pocket. Please call us, and we can figure out the best path for you in about 30 minutes! If you don’t have any revolving credit, we generally start there. Just having installment loans (car payments and college loans) will not get you the best scores. A Secured Credit Card / generally two are needed / will help increase scores within 6 months. Our number is 919 649 5058
Hi Elanore,
Do you assist families in Greensboro?
Thanks, Sheanna
YES! We have an office in Greensboro, in fact that is where all of our Underwriters are. We help folks all across the state… Greensboro is one of our favorite places, because our daughter goes to UNCG 🙂
hi im betty and im trying to buy a home …im a first time homebuyer im looking to move to Lewiston NC i was wondering if yall have programs in this area
Betty! We will contact you directly, or you can call us at 919 649 5058. We certainly do first time home buyer loans in Lewiston, NC, and we would be happy to help. We offer all of the First Time Home Buyer Programs, and no down payment USDA Home Loans. If you need a co-borrower to buy your house, we offer programs for that too! Congratulations on taking this next step!
Eleanor, do you know if there’s any “First Time Homebuyer” programs that have higher income limits? Everything I’ve read has a limit for our area around $82,000. Is there any type of NC program I could take advantage of that doesn’t have a limit like that?
Please let me know what are you are looking at, remember that some of the programs ONLY look at the BORROWER, and some look at everyone in the HOUSEHOLD. Call us, 919 649 5058 and we can help you 🙂
Hey Eleanor do you do work around the Charlotte area? My fiancé and I are first time homebuyers looking into the USDA loans around the Mint Hill area which is right outside of Charlotte.
Hey! My cousins all live in Mint Hill (just off of Wilgrove Mint Hill Road)! The Philadelphia Presbyterian Cookbook my Aunt gave me for a wedding present is my FAVORITE! I know exactly where you are! We certainly do help folks in that area – and I would encourage you to call us! 919 649 5058 / we work after hours, and on weekends. This is exciting!
Hello, I currently live in Princeton, WV but would like to move back to NC where I used to live. I wonder if there are any first time home buyer programs that I would qualify for. There are better opportunities available in other states. I desperately need a change. Let me know. Thank you for your assistance.
Grace! Welcome back! There are SEVERAL programs you might qualify for, including down payment assistance, and a Mortgage Tax Credit!
Hello my wife and I are on fixed incomes what do we have to do to buy our first home
Congratulations on your decision to be home owners! You need to make copies of your income statements, (if you don’t get a statement, and money is direct deposited, copy your bank statement) and give us a call! You can qualify for a first home on fixed income, and you might qualify for several of the State of NC first time home buyer benefits! Their are Grants to help with costs, and Mortgage Tax Credits available too! Here are some additional tips for First Time Home Buyers! Call us! 919 649 5058
Hi.me and my husband are trying to buy our first home.we have a secured credit card and have been told that his credit score is good enough that we could get a lone to buy something now but we can’t come up with the money for a down payment.what should we do?we are in beulaville nc.
Loan*
There are MANY options for you! USDA Home Loans might be the perfect program, but there are other NCHFA Affordable Housing Programs available that have virtually no down payment requirements too! Just call us at 919 649 5058 for more information!
I’m looking to buy my first home in Wake county, can you help us find a first time homebuyer program? Thank you for any help you could give us.
There are several programs you might want to look at – and we offer them all! USDA Home Loans do not require a down payment, and the State offers down payment assistance, so that you only need .5% to buy a house! There are also Mortgage Tax credits available. CALL US 919 649 5058 and we can give you the exact info you need to buy a house!
Hello!
I would be a first time home buyer and I just have so many questions about which program I’d qualify for and which would be best. Or if I don’t qualify for any of them, what can I do to qualify for them? Is that something yall could help me with?
Thanks!
Morgan
We can definitely help you! In NC (and every other state) there are mortgage programs available for First Time Home Buyers! Our motto is “First the Loan, then the Home.”
Hi Eleanor. My name is haley. My fiancé and I are renting and are very low income. We have a child and would like a place to call our own. Is there anything we can do to get approved for a loan for a home?
Can I get a home with a 600 credit score and 4% down payment?
Yes! FHA has several options, they only require a 3.5% down payment – and you might qualify for the NC Grant, or mortgage credit! Call us 919 649 5058
Sure! Give us a call – the first thing to do is look at your credit. If you don’t have any, or it needs to be fixed, we can help. There are many programs that don’t require a down payment – and there are NEW Grants from the State of North Carolina that will be available starting January 1st! It is a great time to buy a house!
I’m near goldsboro nc. Do you usually help find homes towards this way?
YES! We have great friends in Goldsboro, we love Wilbur’s (I know that was not the question) but YES! We work with folks all over the state of NC 🙂 Call us at 919 649 5058
Hello Eleanor, We are looking to buy our first home in wake county. Preferably Raleigh. Which parts of Raleigh are eligible for a USDA mortgage? Is there an office here where we can discuss the process?
Alice, we do a ton of these loans, and we are located at the Crossroads Shopping Center in Cary. You are welcome to make an appointment and come by to see us – additionally, here are the most up to date maps regarding Eligibility for USDA Loans in Raleigh. Be careful when you are looking at the USDA Eligibility Website, because as I wrote yesterday – it can be misleading. When you have an actual address you are interested in, be sure to look at the USDA Loan Future Eligibility map 🙂
Hello Looking to get started on your 6 month credit program. DO you have any offices in or near Statesville?
You can always call us. We help folks all over NC, and have offices across the state too 🙂 919 649 5058
Hello Eleanor. My husband and I have just started paying Camden Credit Services to help us fix our terrible credit. Not knowing that the car dealer we purchased our last 3 vehicles from had ran our credit with different banks a total of 49 times in the last two years, it has really damaged our credit! I was so livid when the specialist told me what was going on with it. Anyway, we already have a mortgage counselor through the service we are paying for, but my question is, did I make the right decision to fix my credit problems? And what should be my next step?
Shannon – I haven’t seen your credit, but you are welcome to send me a copy of your report. Send it to eleaVor@gmail DOT com / most people do NOT need to pay a company to fix their credit. You can usually do it yourself. Your credit is really only a snapshot of what your credit IS, and then an indication of what it WILL be, based upon that snapshot. So NEWER items, in general, are given more “weight” in the report, than “older stuff.” That’s why we suggest that folks make sure they do the following:
1. Don’t let ANY more bad stuff hit your file. Meaning, payments on time, no going over your credit limit on anything – and NO MEDICAL (or other) collections hitting your files.
2. Open up NEW credit, if you don’t have any recent open credit accounts. We generally suggest that folks get at least 2 “secured Credit Cards.” Use them once a month – then pay them down to a $10 balance. Having that SMALL amount of interest that you pay once a month will help your scores.
3. Do NOT allow anyone to dispute all of the stuff on your credit file. It will usually mean that “old” collections get sold to another company, and it will, in the long run simply hurt your file more.
4. If you have Collection and Liens that are NOT Medical Collections, start making payments. Set up a payment plan of $15 to $25 a month, get it in writing – then stick to it. Making on time payments like that can be used after 6 to 8 months, especially if it is an IRS lien.
You are headed in the right direction! You can do this! CONGRATULATIONS! If you send me your file, now or later – I’ll be glad to run it through our simulator that will tell us exactly how many points you will get for various adjustments!
Hi. Me & my son want to move from MD to NC. I’m working on my credit now & saving. What is the requirements if I have a judgement ? Do I need to show months of consecutive payments or does it need to be all paid off before I can buy a home? Im looking for someone to guide me through these steps. I have no idea where to start? We are planning on moving Sept/Oct to the Concord/Charlotte area.
Julie! Welcome to North Carolina! I think you’ll both love it here!
In answer to your question – It will depend on what program you are applying for. In general, FHA will accept 6 months of payments on a tax lien (for instance) as a payment history. I suggest that you either call us, or hit the apply button on the top right of the site. We’ll be glad to give you exact feedback on what steps you need to take.
Hello,
My fiancée’ and I are planning on buying our own house in the next year. We are interested in finding out what we need to do in order to become first time home buyers. We do not have any major credit cards. We both work and I am currently in school and we moved here to Wake County 3 years ago and we have been renting for 2 years now. Will you please assist us on ways or steps we need to take in regards to buying our own home next year.
Thanks,
I think I emailed you directly – but if not… first let me say CONGRATULATIONS! You’re going to be a Home Owner!!
In order to give you the BEST advice, we need to see a loan application. You can fill out as much as you can with that APPLY ONLINE green button on the top of the page, or call us at 919 649 5058. Either way – we will have the information we need, and there’s no cost or obligation.
Getting a couple of revolving credit cards, and then keeping the balance really low is generally important to boosting credit scores – but I don’t know what yours are…
The answer is YES! We will assist you with the steps you need to take to buy a house!! Sorry – I should have said that first!
You might find this helpful as you are looking for more information on a plan to buy a house – but generally, all you need to do is either fill out the application on line or call 🙂 Can’t wait to talk!
Hello Eleanor,
I really enjoy reading your posts! I am currently looking into getting a FHA loan and was wondering if enrolling in an extended-fixed student loan repayment plan would show up differently on my credit report (compared to standard-fixed 10 year plan).
For example, if someone owes 100k and their fixed repayment amount is $1,200 over 10 years, but when their loan repayment period is extended to 25 years they may then pay $800. Would the $800 show up on their credit report instead of the $1,200.
I know that IRB plans will not show up on your credit report because the amount isn’t fixed.
Sabrina – thank you for your kind words 🙂 Yes – the payment you negotiate is going to be the payment that counts for a FHA Loan. The way the guidelines are written, it really does not HAVE to be a fixed payment loan for FHA Loans (like it does for USDA Home Loans) however, this is very new – so we don’t really know if a Bank is going to add other restrictions. This is why I’ve been saying figure out what your deferred payment is going to be, then get a letter, and let’s hope the letter just says here’s what the payment will be – not that it’s a payment based upon IBR or PAYE calculations. The fact that it is a 30 year loan should make the payments lower. Let us know when you are ready for us to talk about your specific situation – we would love to help you with your mortgage! 919 649 5058
I recently got married. my husband and I are wanting to buy a home together. But let’s just say we have not so great credit. He also has a foreclosure on his credit that’s suppose to be coming off this fall. Myself, I’ve never bought a house.
Please tell me there is hope and I’m wanting to buy pronto. Not a big fan of my land lord Or the place we’re renting now
Thank you in adnvace
Rachelle – There is hope. If he had a foreclosure that’s coming off this fall, that means the foreclosure was more than 5 or 6 years ago. So it really is old news, and will not affect you. The biggest thing to remember is that you need to have a) on time payments for 12 months b) no medical collections (etc) on your credit file ADDED in the last 12 months and c) you need to have at least 2 open trade lines for 12 months. You can get a secured credit card at the Bank at Walmart.
Hi elanor. I am hoping to become a first time buyer. My family and I have already located a home we sincerely love and have our hearts set on our goals its just now the steps to get there . we have a 4bed 2 bath in stokes county were looking at . I’m just not sure where to start. I have a small down payment and several of us work so payments are not an issue . any help is appreciated. Thanks !!
Hi my name is Jamie and I have started planning to purchase my first home.I am wanting to purchase a home in the Shepards Pointe Subdivision in Zebulon Nv.I am currently working on my credit score.I have fallen in love with the model 2508 of Adams homes in the Shepards Pointe subdivision.The base price of that model is 213,000.I have been told that my income is not enough to qualify for that price range.My income is 1900-2000 per month gross.With a loan that amount will put my mortgage payment around 1400.00 a month.I can not afford that with my income.Do you know of any programs,plans or anything I can do to purchase this home and have affordable payments as a first time buyer?
That is Zebulon NC
Jamie – I’ve often seen folks fall in love with a house, before they spoke with a mortgage lender to see what price range they could afford. That’s hard. However, there are some options open to you. First, call us. 919 649 5058. Maybe a good option is a non-owner occupied co-borrower.
Additionally, are you in a field, or a position where you feel your income is going to increase in the next couple of years? We can talk with you about temporary buydowns for your payments. These haven’t been used in a while, but it’s how Steve and I bought our first house.
Joyce! Congratulations! The first step is to call us, and let us look at monthly payments and down payment options. We work with folks every day who are just like you. They want to buy a house, they found the one they want to buy… but now what? HOW do you go about buying a house? Spend 15 to 20 minutes on the phone with us. It’s a no obligation, free conversation – and we can get this process started for you! 919 649 5058
Ok that sounds like a good option.Im getting really discouraged and I feel that this just might not be my time.
Thanks for calling – I’m sending you payment options now 🙂
Me and my husband found a house we love, but he is worried about loans and stuff. We have never done this before and we desperately need your help. We are wanting to move to Sanford, NC. Please help us
We help folks all the time who don’t really know where to start. Here’s some more information about a First Time Home Buyer Plan – if you’d like to talk, you can call us at 919 649 5058. It’s never too early to talk about payments and how much money you’ll need. In NC, many Seller pay your closing costs.
I am looking to be a first time home buyer. I have good credit and only loans I have currently are my student loans (about $209 total/month). I called my bank about mortgage options and they said I qualify and can get a home! However, now I don’t know where to start! I have been looking at homes online when I get a chance, but I don’t want to get too over my head and be house poor. I know that with FHA I only need a 3.5% down payment. Please help!
My husband and I would like to purchase our first home instead of renting our whole entire lives. We have no clue how everything works, but would love to learn how. We heard of the first time loan. How much would you have to put down out of pocket when buying a house? My husband is the only one who works. When he got a loan to have dental work down they said his credit was good.
Amber! Congratulation on making the decision to buy a house! Here’s a First Time Home Buyer Purchasing Plan. This is another article I did on Frequently Asked Questions for First Time Home Buyers.
The VERY FIRST STEP in buying a house, is deciding to do it – and talking to a lender. We will tell you what kind of programs you qualify for, what mortgage tax credits are available for you (not all lenders offer these) and what you will need to do to be in a position to buy a house. We’d love to be that lender for you! You can call us at 919 649 5058 – we work nights and weekends, and there’s no cost or obligation to call us. You could also complete the quick application by clicking on the green button on the side of every page.
GOOD LUCK and CONGRATULATIONS!! #HomeOwner
Caitlin! I’ve been on vacation – so I sincerely apologize for the delay in responding!
You might also qualify for Mortgage Tax Credits, which most lenders don’t offer. The Tax credits could be the “off setting amount” that helps you feel more comfortable with your mortgage payments. Depending on your income, they could be as much as $166 a month!
You can call us anytime for a no obligation, free conversation about what you specifically need to do to buy a house. We offer all of the NC First Time Home Buyer Grants
Eleanor-
My wife and I are looking to buy a home in the Fuquay-Varina area and i believe we are a perfect match for the first time home buyers grants and tax credit. We have already been pre-approved by a lender for around selling price of $200,000. I would like to stay around $170,000 (my comfort zone). I know my credit score (approximately, within a few points) and my income is $60,000.
The lender I have been working with has been steering me away from the grants (Mainly because they do not participate in the grants I am assuming). I wanted to get a second opinion and more information on these grants for which I may qualify.
A question I did have was what is the period that we have to stay in the home in order not to have to pay back the grant?
Lee, I certainly appreciate the fact that not everyone has the programs – however, even if you don’t use the grant – the monthly payments will be significantly less if you take advantage of the Mortgage Tax Credit Program. We would be glad to help. This is $166 a month savings, and could make you more comfortable with the payments. 919 649 5058
hi my name is Jamie and my husband has a good paying job now I’m looking into buying a home in Nash county and I was wondering if we have to have money to pay you to look into whether we qualify for grants or anything or what I should do. Thank you for your time.
No – there’s no fee to work with us, and there’s no obligation when we pre-qual you to actually use us… although most people do!
Hi I moved here November 2014. I want to be house ready by summer time 2016. I know I have some work today and from what I read I believe you can definitely help me get there. I just need to kno where to start.
WELCOME TO NORTH CAROLINA Venicia! (What a pretty name!) Congratulations on deciding to buy a house! You can just call us at 919 649 5058, or you can go through the apply button on the top right of each page. There’s no obligation, and no cost! 919 649 5058
i want to buy a house in Raeford NC can you help me please HELP
Maria – yes we can help you, and great news! You might qualify for the $15,000 grant currently available for First Time Home Buyers! Call us at 919 649 5058
I am moving to nc next year from ct. I want to buy a house. I would be a first time buyer. Need to know if i qualify. I dont want to rent. What would i need to do? Not sure what area would be best for me thinking about Robertsonville or Jacksonville I have family in those areas. Thank you for your help.
Janet, the first step is to let us take a look at your credit. That way we can advise you about what can be done to improve your scores. Even if you have GREAT credit, an increase of 25 points can save you a bundle on your home owners insurance1 Call us at 919 649 5058
I’ve been reading the comments and started getting a little hopeful in regards to my situation. I recently lost my job (I was the bread winner), and was forced to settling for a $10 paying job due to me also being 7 months pregnant. I’ve started working on my credit (which is steadily rising due to perfect car payments and having a secured credit card) and realize that my situation is only temporary. My husband is also in a low paying job but am hopeful for something better paying as we’ll. His credit is terrible. We have rented for over 10 years and have almost perfect rental history. Is there a chance for us? Oh….I’m also a Vet.
Sorry for the summary but I would really love to use your services.
Dionne! VA Loans are some of the EASIEST loans to get approved for! If you haven’t done so yet, be sure to get a secured credit card for him (actually 2 would be better). He’s going to be seeing his scores go up within the next 6 months. CONGRATULATIONS! You are headed in the right direction, and you CAN buy a house. It’s just going to be a little while longer. We would LOVE to help you buy a house!!!!!!!!!
Hi Eleanor
We live in a double wide we bought about 5 years ago (we paid it with cash) here in Union County. We were told we did not qualify for First Time Home buyers grants or tax credits. Now we are ready to build our home (the land is also paid for) and we want to apply for a construction mortgage. Do we qualify for these grands and credits for this purchase? our combine income is below 87,000.
Thank you.
Rusty – unfortunately you do not qualify for first time home buyer programs because you’ve owned a home as a primary residence in the past 3 years.
Hi Eleanor,
My wife and two children will be moving from upstate N.Y to the N.C- Asheville area this coming spring. We’re looking to purchase our first home. We’ve been renting for 10 years. We’re trying to get our credit in order but we were wondering if we would qualify for any of these grants seeing as we’re out-of-towners? Our combined income is less than 87,000.
I’m looking to move to charlotte, nc in a few months. This will be my first time buying a house. I want to know do I qualify for the first time home buyer program. And if so how much help will I receive?
Ray! There are $15,000 grants available in Charlotte for a couple of more months! Call us at 919 649 5058 for more information!
All “out of towners” are welcome! Give us a call at 919 649 5058
Hi Eleonor, My wife and I moved to the US about 1 1/2 years now . We are planning to purchase a home. We have a good credit score but only for short period. We have good income.I have one w2 and my wife has two w2. Can we qualify for the first time buyer program or a mortgage?
Thanks.
We are planning to buy a home in raleigh area. Thanks
Yes, you probably qualify. If you have W2 income, I’m assuming you have some sort of Visa. It will be important for us to see that documentation to determine what programs you qualify for. Please call us at 919 649 5058
Do you assist people in Rowan county? I have never owned a home and have rented for 5 plus years and ready to have a home of my own. Can you tell me where to start and what information I need to start looking.
Hi I am interested in buying a house in Knightdale, NC in about July or August of this year I currently live in New York and want too move cause I have 3 children and I know this move will be good for them is there any advice or help u can give thanks.
Hello,
Which areas to you work in. I live in Guildford county
Thanks,
Elsa
We definitely cover Guilford county, in fact we have an office on Elm Street in Greensboro
Stephanie, take a look at your credit score now. You can see it at Credit Karma. I would also save up some cash. You CAN buy a house with zero money out of pocket, but it’s really hard. Having some cash built up before you move will be a real blessing!
Chris I am so sorry for the delay in responding – my mom’s been in the hosptial. You can call us at 919 649 5058 and we will be glad to help – or you can hit apply now on the website, and we will call you once we have all of your information. Either way is free and no obligation
Did a pre qualification with my bank and my credit score was above 640, credit utilization was below 40% but didn’t have money saved for down payments/closing cost. Renewed my apt lease for 6 months starting 5/1 to save money. Had NO IDEA about these grants. Wanted to know is this something I should look into now or wait a few months since I just renewed my lease for 6 months?
JD – Call us at your convenience. There’s another round of very attractive grants coming out in the 3rd quarter. We can get you ready for your new home!!
My husband and I will be first time home buyers next year. We’re saving up now to buy the house we want, but we know that we will need a loan from the bank. I think an FHA loan could be good so that our parents can help us when we need it. Thanks for the help.
My mom and I have been renting for as long as I can remember and we’d finally like to buy something. I work in Fayetteville and will be looking in that area. I’ve brought my credit up past a 640 and make less than the 87,000 a year. I know there was a program late last year for a 15,000$ grant but we weren’t ready to start looking just yet. The only thing that’s stopping me from buying now is the down payment and closing costs. We really want to buy our forever home. Is there any grants available to me? This whole process is new to me and I’m unsure about where to start.
Angel – call us, and we will be glad to go over it – but it’s good to know that there’s a 2nd round of the $15k grants coming out within the next few weeks. It should be available no later than mid September.
I am looking to buy a condo in Charlotte, nearer to downtown. First time homebuyer. What kind of grants ($15, 000) might be available to me in this area.
June, there are down payment assistance programs available for Condos in Charlotte, and the programs should be easier now that FHA is back in the Condo business 🙂
I heard from Housing that the Treasury Funds will not be available until the 4th quarter of this year in NC, those are the $15,000 grants. Please check back (I’ll have it on the site), or call us and we’ll add you to the update email 919 649 5058
Hello Eleanor. My wife and I are currently renting but hoping to become first time home buyers as we have have a little one. However, we’ve had a recent repossession not because we couldn’t afford the car but because they refused to fix it. So we have less than 560 credit scores. We are looking for a home in stokes county. Is there any hope for us??
Hello Eleanor,
Me and my family have rented forever but have wanted to buy a home in Burke county area(western N. Caroline). I never knew about this program until I come across it today. I qualify based on income and credit score. Where do I start? Do you guys work with families in my area? I’m very interested in seeing where this can go?
Yes! I think you contacted us – but you can all 919 649 5058 or fill in an application. We are working this weekend.
You should read this about Repossession. https://ncfhaexpert.com/first-time-homebuyer/i-have-repo-on-my-credit-report-can-i-buy-a-house/
Eleanor, can I qualify for and receive the $15,000 assistance grant in addition to the NC 5% home advantage grant?
Eleanor,
Your site & comments are very encouraging. We’ve been renting for EVER now (almost 10yrs)!! We are in Brunswick County, NC and I believe the entire county qualifies for USDA which seems to be the right loan for us? I have scores around 640-660 and my wife 605-615 and both are climbing. It seems we fall into the income category as well. USDA is appealing since basically no money out of our pockets. We may even qualify for grants, etc. We’re just tired of renting. Had to give up the family dog last year due to renting 🙁 and my daughter is still not happy. We can have him back though if we buy something. My DTI looks to be around 18% if using AGI, not sure if they use that or just gross. I’m not including rent/mortgage amount in that 18%.
Biggest hurdle could be my student loans which are huge BUT they are set up on Income Driven Repayment at $190/mo. I also work for a non-profit which forgives my loans after 10yrs (starting now).
Anyway…..just hoping for a ray of light I suppose.
Thanks,
Paul
Paul! It sounds like you guys are doing all the right things… Your Student Loans might be a little bit of an issue, but there are some work “arounds.” Here’s information that might help regarding buying a house with Student Loan debt. As we understand it – several of our clients have been able to put loans in full repayment, and then take them and put them back into IBR status. I don’t know if that is an option, but you should at least look into it. I saw some video of Southport from Matthew – hope things are ok 🙂
Beth, you can do one or the other.
Eleanor,
No that’s not an option at all. Not sure what to do actually. Might be renting for enternity
Paul
Eleanor,
Do you work with people in Lee County, Sanford, NC? Or can you recommend someone?
Yes! We were in Sanford this weekend after visiting a friend in Bear Creek! We would love to be of help, call us at 919 649 5058
Hello Eleanor I live in ct but i would love to buy a house in Raeford nc I’m wondering if you can help me I’m a first time buyer with a 628 credit score buying a house is my dream can you guide me I don’t know we’re to start thank you email me please
We will send you some information later today – or you can call us at 919 649 5058 Welcome to NC!
I was wondering if you have people out towards Roseboro area?
We do cover the Roseboro area, can you please call us at 919 649 5058 to schedule time to speak?
Hello, i just got a home http://www.drhorton.com/North-Carolina/Raleigh-Durham/Pittsboro
and am wondering if you cover that area?
Lucy we do. We are in Cary. Please call us at 919 649 5058
Hi do yall work in the area of waynesville, candler, or clyde nc ?
Yes we do! Our number is 919 649 5058, our son and daughter-in-law graduated from UNCW, our niece is there now, and Steve went to elementary school in Sylva. Small world!
Hi Steve and Eleanor my parents are in the process of buying a home there were giving their info. To another loan officer. I suggested they give you guys a call. They said they tried the number I gave them (919) 649-5058 but hadn’t gotten a response. Is this the best way to contact you. Thanks
Hello,
My husband and I are moving from NJ to NC Summer 2020 we are so excited. We are first time home buyers looking into the USDA loans to reside in rural (Godwin) Cumberland County on our wooded 1 acre land. We will be purchasing a manufactured or more likely a modular home. We definitely wants to be living in our new home by August 2020. Do my husband and I need to obtain jobs there before we can start any type of process? Please help I don’t know what to do. Please we need some guidance. Thank you.
Ms. Henderson, we are replying to you directly. Because others read these comments, I want to tell you that you will definitely need jobs here prior to closing on a home in NC… or we will need for you to have some sort of retirement income already established.