If you’re a first home buyer you probably know that you could be eligible for government assistance in buying a home, commonly known as first home buyer grants. The home buyer assistance programs are NOT Grants. They are forgivable Loans, in most cases. These loan programs are not just limited to first time homebuyers, either. They are also available to those who have owned a home before, as long as you meet the maximum income limits, don’t buy a house that’s too expensive and you’ve been renting for at least the last 3 years.
How exactly do they work? And how much do you get? And do you end up with really high Monthly Payments on a house because of the First Time Home Buyer Programs??? (nope.)
How To Apply For First Time Home Buyer Assistance NC
The first thing to understand is that there are several different First Time Home Buyer Assistance Programs available in NC.
However, the process for applying for any of these mortgage loans is the same.
You have to contact a qualified Lender (we are definitely on that list with NCHFA, so dial 919 649 5058) and complete a mortgage loan application. You can do that on this site (see the green button on the right?), or you can call us, or you can come in. That part doesn’t matter.
Once we have the information from the loan application we are going to look for the following:
- Do you go over the maximum income limit for the WHOLE STATE of $126,000 for the Applicant. USDA Home Loans NC have a ceiling, which in some cases is higher, based upon the HOUSEHOLD income. With the First Time Home Buyer Downpayment Assistance program, we are only looking at the folks who are on the application. This usually makes it easier to qualify for!
- Do you have a minimum credit score of at least 640. This is based upon the MIDDLE credit score – so if you had 3 scores that looked like 622, 641, 649 you would be golden, because at least 2 of them are over the 640 benchmark.
- Have you been renting, living with parents, in school for at least the past 36 months. We’ve made loans to folks who owned a property in Ohio that they moved out of, and have been renting in NC for 3.5 years. They qualified for the First Time Home Buyer Assistance.
After we determine that you meet these basic qualifications for the First Time Home Buyer Loans, we will determine which mortgage program works best for you, and how much assistance you qualify for.
**A Quick Note**
We sometimes refer to these programs as “mortgage grants” because there are no payments to be made, there is no interest charge, and there’s no expectation that you will have to repay ANY of the money you receive for down payment, unless you move out of the property or refinance prior to the dates assigned by your specific down payment assistance program.
The literal term for this down payment assistance program is a “forgivable loan.” Under the terms of the program that best suits you, a portion of this down payment assistance will be forgiven on a schedule that we will share with you when you make loan application. These funds are available to us through NC Housing Finance Agency (NCHFA) and are available through other lenders in the state as well.
The interest rates for these programs, however, will not vary from lender to lender as that is set by the NC Housing Finance Agency itself.
Mortgage Programs Accepted With First Time Home Buyer Assistance
The First Time Home Buyer Assistance Programs only cover down payment, and closing costs. You can use the money for any type of mortgage loan, and each mortgage program has it’s own “quirks” or requirements. So again, you can use First Time Home Buyer Programs for a FHA Mortgage, USDA Home Loan, VA Mortgage Loan or a Conventional Loan
- The Money can be used in “conjunction” with a Seller paying Closing Costs (for instance) and / or a Gift you might receive
- The Money CAN be used for Down Payment
- The First Time Home Buyer Programs can also be used to pay for closing costs, or to cover Mortgage Insurance, PMI or a VA Funding Fee
What Assistance Programs Does North Carolina Offer?
In North Carolina, there are three different first time home buyer programs available thourgh The NC Housing Finance Agency.
One First Time Home Buyer Program provides you with 3% that can be used for closing costs or a down payment on a Conventional Loan or a FHA Loan. The other program allows 5% in down payment assistance for all Government Loans.
There’s a NEW Limited offering of a $15,000 down payment program that will be available in every county of the State. This newest grant program does have some different guidelines from the 3% and 5% assistance program, specifically when it comes to Income Caps.
The assistance can also be used for Closing Costs on a USDA Home Loan or a VA Loan (these programs don’t have any down payment requirements).
The Conventional Loan Assistance Program only requires a 3% down payment, and closing costs can come from a gift, the seller, savings – it’s a very flexible program with extremely low PMI Rates!
Some of the Assistance Programs are available for homes that you qualify for, meaning, there’s no MAXIMUM sales price for the program. Other types of NC Huosing Finance Agency Assistance has a maximum sales price of $385,000.
However, if you are applying for a FHA Loan, with the Grant to cover your down payment, you will be limited to the maximum FHA Loan for the county you are buying a house in. If you are applying for a USDA Home Loan NC there are some ADDITIONAL income limits based upon the USDA Loan limits in the county you are buying a house in.
Here are the maximum Single Family Home / FHA Loan Limits in 2023 for the more “urban” areas in North Carolina. In general, if it says “Raleigh,” for instance, it includes the neighboring Towns like Wake Forest, Holly Springs, Apex, Knightdale, Wendell, Johnston County, Cary, and so on.
- $472,030.
- $602,600.
- $472,030.
- $472,030.
- $472,030.
- $502.550.
- $472,030.
- Winston Salem, NC$472,030.
Mortgage Tax Credits Available for First Time Home Buyers
In addition to the Grants, North Carolina offers a Mortgage Tax Credit for folks who have not owned a home in the past three years. This Tax Credit is in ADDITION to the Tax Deduction you receive for owning a house. A Tax Credit is better than a deduction, because a deduction decreases your basis for taxation – but a Tax Credit comes straight off what you owe in Federal Taxes!
The spirit of the program is that if you’re paying less in Federal Taxes, you will take the income to help offset any extra costs in home ownership.
There’s a maximum sales price for the Mortgage Tax Credit across the State of $385,000 – there are also maximum income requirements, and those vary by county you are buying a house in.
So how do you get your hands on the money?
MANY People send us messages saying:
“I qualify for the Mortgage Tax Credit Program, what line do I put that on for my Tax Return – Bought my house last year.”
Same thing about the First Time Home Buyer Down Payment Assistance, “I have been approved for a FHA Loan, how do I get my Money??”
The First Time Home Buyer Down Payment Assistance and the Mortgage Tax Credits are provided at the time of closing, there’s some paper work involved, the loan has additional Underwriting time since it has to go to the Agency to get approved. As long as you meet the requirements…for the First Time Home Buyer Downpayment Assistance Program that means you have less than $110,000 a year gross income (before taxes), your debt to income ratios are less than 44%, and you are buying a house in NC… we’re good.
Again not all lenders offer this program… YOU CAN NOT GO AFTER THESE PROGRAMS “after the fact.” Meaning you can’t buy a house, and THEN apply for the mortgage tax credit, or the first time home buyer downpayment assistance. You apply at the time you are buying a house!
We are EXPERTS at helping you buy a house with VERY LITTLE money out of pocket! We love working with first time home buyers, and offer all of the First Time Home Buyer Downpayment Prgrams. Call Steve and Eleanor Thorne 919 649 5058 – or connect with us on Facebook or Google + or Twitter!
looking for a way to get me and my son a home who is 2 years of age. I am a single mother, 19. never had a place of my own.
If you don’t have credit built yet, this is the first step in buying a house. Buying a house is normally a process, so keep moving in the right direction!
Are your services offered to applicants in all counties in NC?
Hey I’m in the process of being approved for an FHA loan and was told I would be paying $2800 down an $4000 closing costs. Me and my fiance are on the home an we asked about usda originally but was not allowed because we didn’t have 12 months of four things on credit. So now we’re going after an fha. We have never owned a home an together we make 45000 a year an the home is in Statesville. Is there anything we could do to have less money spent on start up so we have more to furnish the home? Thanks
How do I apply for government assistance loans and grants to see what I qualify for?
Jennifer, you can contact us, and we will be glad to go through all of the programs with you. Our number is 919 649 5058
Robert, we would be glad to help you with a Down payment Assistant program. Please call us at 919 649 5058
Yes, we do much of our business outside of the Raleigh area. Please call us at 919 649 5058
Trying to apply for the first time buyers program,and would like to see what I qualify for!
My daughter and I want to buy a house together. I want to know what grants we can get to help us out. We are both first time buyers. What do you suggest? What is my best course of action? Also do you handle onslow county as well? I am 55 years old and she is 24 with 2 kids. I have found a house that I like, but I haven’t been in it yet. It is a foreclosure and needs some work done on it. Will we be able to get any kind of help to purchase this house?
Im looking for to purchase a house in Fayetteville nc. As of now would i be able to receive down payment assistance?
Trey, depending on where you want to buy a home in Fayetteville, you might not need a down payment, even if you are not a Veteran! You can call us at 919 649 5058. There are several programs available, and we understand there’s another one coming later this summer.
Kathleen – we do loans all over the state of NC. It sounds like you guys are on a great path! Congratulations! Call us at 919 649 5058
Please call us at 919 649 5058
What if we are from out of state??? Do we have a chance to get a first time buyer loan?
Is the 15,000 down payment assistance grant available?
It ended last week, however in speaking with the Folks at Housing, it looks like a new program will be available in the 3rd quarter.
Yes, as long as you are living in NC when you buy a house
Hello, so trying to apply to the 3.5% grant is no longer available?
Last yr in Jan I was approve for a home loan of $75,000 plus with the house charlotte down payment assistance if $7,500 if I move into one of the neighborhoods making it $92,000 and Im still looking I want a 2 story house and in my price range I dont have enough money is their another down payment program that I qualify for so I can get the house I want and still use Naca housing program ,in need of help,Thanks Teresia
I was told that the down payment assistance ended. I worked on my credit and lower my debt. When a new program comes out, can you email me with the information detailing of the program and we can go from there?
Hello. I sold my townhouse April 2015. I have been renting since then and am currently still renting. I want to begin the process of buying another house soon, but I don’t have a lot of money saved right now. My current salary is less than $87k, and credit score is 640 or higher. Could I qualify for down payment assistance in North Carolina?
Thank you.
That 45% Debt-to-Income Ratio, is that for Front-End, Back End or both?
Are there any programs in NC for down payment assistance if your median credit score is below 600?
If I am looking to be moving from out of state, do I have to have an address in state prior to getting the house? Or, can I move directly from the other state to NC and still be able to have the grant?
You can move directly from another state into NC and use the grant to buy your home.
Unfortunately the bench mark is a credit score of 640 for the mortgage grant programs
It’s the total house plus debt ratio – so “back end ratio” for a mortgage loan in NC
Gwynn yes you can and you might also want to look at the USDA Home Loan NC program as well. I apologize for the delay in responding, my mom’s been in the hospital.
Thank you Eleanor, and I am sorry about your mom.
This may be a dumb question but I am asking! I have been renting for 6 years but 3 in PA and 3 in AZ. I am moving to NC in the near future and fell in LOVE with the house. Since I haven’t rented for 3 years in NC does that make me ineligible?
Hi, do you offer services for Charlotte, NC? I would be a first time home buyer, tired of renting. I have a fair credit score 642 and husband has a 589 score due to no credit history, but it is rising. Don’t know our options. We dont have credit card debt, but i do have student loans, in good standing. Just dont know where to start
Hi, I am looking to buy a home in the Raleigh area and would like to know what type of grants I can receive. I raised my credit score to 714 and have 16 months on my job (i was in school and an at home mom before then); it would be ideal if I didn’t have to pay a down payment or closing costs.
Thanks!
Hi my husband and I are Looking to buy our first home in Guilford County. Our credit is fair. We just really need to know where to start. Can you help us?
I want to buy a home I am a first time home buyer and need help to get approved for the loan at the bank they said I must have down payment and closing cost available first
I have been lease optioning my house for 3 years from the home owner. Can I apply for first time home owner loan? I would love to finally get the house in my name.
Mack I think we’ve already talked to you, but if you need more information, please call us at 919 649 5058
Joshua, I think we already talked, but please call us at 919 649 5058
It doesn’t matter 🙂
I’m looking to buy my first home in Fayetteville. I know the 15,000 assistance program is over but saw you said there would be a new program this summer? Has there been any news on that program? I’ve been renting with my mom my whole life and I’d like to get us something permanent.
Hi.
I’ve been renting in johnston county for 1 year. Before that I was with parents/in school. Credit score is around 655-665.I have been at my current job a year and a month. Household income is around $55000 before taxes. I was wondering if renting for only a year would still qualify or do I actually have to rent a full 3 years? And if I’m clear on that 32nd is there any grants available now similar to 5th 15000 down payment grant for johnston county. Thanks
Justin, please call us at 919 649 5058. You do not have to rent for a certain period of time prior to applying for the grant – you just can’t own a home for a specific period of time There are not many of the $15000 Grants left, but there’s a new funding of the program that is suppose to come out during the 3rd quarter of this year (we heard September). There are multiple no down payment options available in Johnston County, so again, please call.
Do you have agents that work in the Charlotte Mecklenburg area?
What is the minimum income for the grant? Can you combine income with a spouse? Do both individuals apply jointly or seperately?
Hello I’m buying a home in lenoir co I need a down payment of 2800.00 Do you assist with down payments on FHA
Hello! My fiance and I live in Virginia and we were approved for a mortgage. We live so close to the state line that we’re open to looking in North Carolina. We were wondering if we’d have to apply again in NC or if we could stay with our lender and just apply for the NC grants.
Katrina your Virginia Mortgage Lender might not be approved to do mortgages in NC? You will need to ask If not, we are more than willing to be of assistance with your new home! Please cal us at 919 649 5058
Jennie! Yes we do! Call us at 919 649 5058
It will depend on what county you want to buy a house in. The NC Home Advantage Mortgage™ / Mortgage Grant income limit is based solely on the income of the borrower(s), also known as qualifying income. For the Mortgage Credit Certificate (MCC) program, income is defined as total household income. Household income is the total gross annual income for all residents intending to live in the home, age 18 or older (except full-time dependent students).
Sales price limit for MCC program is: $245,000. NC Home Advantage Mortgage™ / Mortgage Grant program does not have a sales price limit. For many NC Counties, the Down Payment Assistance program Income Limit is $87500. The MCC LImit is $64000 for a family of 1 to 2 persons and the limit for those with 3 people or more the limit is $74000.
Please call us, and we will verify the limits for the area you are interested in. 919 649 5058
Ys, please call us, and we will be more than glad to refer you to the top Agents we work with in that area. 919 649 5058
Hello. After looking to rent a home and after renting an apartment for years, I thing that it is time fore me to start looking into buying a home. I am a single parent who is going to school. I do not know the first step into looking to purchase a home. If possible, can you point me in the right direction so that I can start my journey?
Congratulations! We have tons of information on the site for First Time Home Buyers – and you might want to read this. But you can call us at 919 649 5058 and we will be happy to walk you through the steps, and help you find the best program for your family!
Looking to move to Greensboro, NC in two years ready to purchase now. Can I qualify for an assistance program. One, I live in Florida and two I will not be able to relocate for two years. Is there any program I am qualified for ?
Unfortunately you would need to be living here for that to work. The program is not for second homes, and that is what it would be until you move here 🙁
Looking to buy first time home with my boyfriend and my parents are also looking. We have rented all my life.
Erin that’s great news! If you will call us, we can tell you what price range you should be looking at 🙂 919 649 5058
My credit score is under 600 but can I still get some assistance with a down payment based off income
My landlord is willing to sell me their home under a rent to own agreement because I don’t qualify as of yet for a mortgage. Can you explain this process and what both my landlord and I would need to do to get the contracts going?
Here’s some information on Rent to Own in NC. If you have other questions, call us at 919 649 5058
Sasha you will need to raise your score to 640 to qualify for down payment assistance
Hi, Is this only a down payment assistance program or is it the loan as well? Would I have to seek out a mortgage with my bank or the builder’s lender along with a down payment assistance from you all? Thank you!
You would not need to apply for another form of down payment assistance. It is a “silent Second” that has no interest and no payments. The terms vary upon the type of assistance you apply for.
Hi I have been approved for a usda loan of 130,000 no money down or I can do a chance loan of 160,000 with 3.5% down is there a program that can assist with the down payment of the fha loan?
I’m looking into purchasing my 1st home this year if possible and I need help in seeing if I qualify for a mortgage loan. Does the 1st time home buyers Assistance program is it also based off of how much money you already have saved up?
If you can make more than a 5% down payment, then you might not qualify for the grant program. But, you might! So call us at 919 649 5058
Yes! We offer down payment assistance for mortgages through down payment grants. You can call us at 919 649 5058
Hi
I move to Charlotte last June 2016.
I am currently renting but I’m planning to buy a house. I heard about many down payment assistance programs and I will like to know if I qualify and which ones are available at this time.
Thanks
Sara! Congratulations! There are several programs available – the one for Mecklenburg County are really good Here are some additional details. Please call us at 919 649 5058 for specifics on qualifying.
Hi Eleanor! My husband and I are home shopping in Cary. Combined we make less than $87,000, we’ve been renting for 6 years and our credit score is above 640. We are pre qualified for a 100% loan. Is there a grant that we would qualify for to help with closing costs? The house we like is $175,000. Thank you so much for taking the time to answer my question.
Forgot to mention that we are first time home buyers.
Mabel! We’d love to help you with that! Yes there are several programs you might be able to use! Call us over the weekend at 919 649 5058
Could this grant be used with a 203k FHA? Im a 1st time home buyer and meet the minimum requirements. Also how about the mortgage tax credit?
The 15,000 program does not work with MCC / Mortgage Tax Credit – however all of the others do. You can not do the 203k loan with these grants.
Hi Eleanor! I’m looking at my options to purchase a home. I meet all requirements except credit score- it is 600. I’m currently working on boosting my score. Do i continue to do that or would it be a good idea to go ahead and pursue an opportunity to purchase a home
Have you talked to a lender? Often times folks look at their credit scores and think they have to get all of that bad stuff off. What most of us need to do is get more GOOD STUFF on our report. I don’t think it’s too early to talk to a lender – call us at 919 649 5058
I texted a realtor a couple days ago let her know I was interested in purchasing my first home.she referred me to a loan office, she ran my credit(made my credit score drop because it was a hard inquiry) said I was approved for $95000. That’s all the info I have. Haven’t spoke with realtor only text. Do I qualify for first time buyer grants or anything, any info would be helpful. I’m flying blind and solo, don’t kno what to do.
Call us. 919 649 5058 – we work with top agents all across the state. It’s very possible that if you qualify for USDA, you will also qualify for NC Housing programs. Depending on where you are located, you might also be able to take advantage of the $15000 Grant now available.
I am a single mom of 5 kids tired of renting and staying at my moms my credit is bad cause if some choices I made with my baby daddy when we were together what can I do about a loan and buying a house for my kids
I think you might benefit from the Habitat for Humanity program.
You can contact them here:
http://www.habitat.org/housing-help/apply
Hi! I am a Durham County resident and I want to know where can I get help on getting in a home with bad credit
Tenecia! Congratulations with your decision to buy a home. The programs that we offer would likely require you to do some work on your credit in order to buy. We would be glad to give you some pointers to do that. You can call us at 919 649 5058 and we will be glad to give you some advice.
Hi Eleanor, I have students loans. Right now I am on an income contingent plan where I am paying just $200 a month and I’m paying $100 a month for credit cards. Is the back-end ratio total debt or monthly debt payments? How does the total debt relate to down payment assistance grants? I started working with a mortgage lender, but I think he usually deals with high-end clients. My realtor friend works in the same company and is and recommended him. He hasn’t mentioned anything yet about FHA loans, down payment grants etc. My income is roughly 20k-25K And I’m looking at a condo that’s 65k in Charlotte. I have credit above 670. Thanks
Hey MT thanks for contacting me. The back end ratio is all of your debt, including the total housing ratio, divided by you gross (before taxes) income. So if your TOTAL new payment is going to be $650, and you have $100 in credit card debt and $200 a month in student loans… We are taking $950 and dividing that by 2083 (if you make $25000 gross) and that would be a back end ratio of 45.6%. You would need to apply for a Conventional Loan, as you have student loan debt, but I feel like you could do the Freddie Mac Home Possible Advantage program that only requires 3% down. If your loan officer is not familiar with this – please call us. We do tons of loans in Charlotte. Our number is 919 649 5058
Me and my husband own our mobile home but not the land we want a small double wide but its hard we both work have good jobs and pay our bills ontime his score is 657 and everything we look at he needs 720 or a good co sighner we need this grantwe pay 320 a month for land that will never be ours and are tired of it we need help
Tawanna, that does sound like you need to purchase something. Unfortunately, we don’t offer home loans on Mobile Homes. You will likely find that Wells Fargo is your best opportunity. BB&T does offer these loans as well, but as I understand it, only on brand new homes. I know for a fact it’s difficult to find “stick built” homes in many parts of NC, but you might want to look on the HUD Store website. They normally update the homes available near the first of the month. If you write in the contract you want to use the $100 down payment with these homes, they are usually OK with it. Best of wishes, please let me know if I can help further
What if you own your single wide but your buying your land … do you have any grants that qualify for that
Unfortunately I don’t. Wells Fargo might be your best option. Good luck!
myself and my wife want to purchase a house. this is our first time. we will be relying on my income of 30000 a year. my wife is disabled. how can we do this?
what if we have been renting to own and we have Baidu nearly haft and only owe 22000 how do we start trying to get a lone to finish paying land and house off
Jean, I assume you have a Manufactured Home. We do not do those loans, but I would suggest talking to Wells Fargo.
You can use disability income to qualify to buy a house Just call us, we will go through the pre-qualification process with you. 919 649 5058
Hi, just wanted to know if any of these down payment grants work for new construction homes. Do the any of the loan programs (USDA, fha) work for new construction as well? Thank you .
Teresa, yes! Some of them do. USDA definitely works, as long as the property is within the USDA Geographic Footprint. The $15k does not, but the 3 and 5% down payment assistance programs do. Call us and let us know exactly where you are looking for a home! 919 649 5058
Take care of family first. We will wait.
So I was recently working with someone at housing at she pulled my scores and they were all between 600-603. I really want to buy soon would I have to put any down payment down with this score and if so what score would I need to qualify for low or no down payment. in the Greensboro area. Please advise? I am also a single mother of 2 with income of about 30k. Help please?
Brittney, you will need a score of 640 in most cases to qualify for a no down payment loan. Having said that, it is possible for us to qualify someone with a score lower than that for a USDA Home Loan, under a TON of “other circumstances.” We will be glad to work with you through this process. Normally, with someone in your credit score range we can give you strategies to raise your score within 6 months. We do many home loans in the Greensboro area, and work with very talented agents in the area Call us at 919 649 5058
Hi Mrs Eleanor i am currently going through a home buying program called naca are you familiar with this and if so do you know of any grants that would help
Ms. Braswell, we are familiar with NACA, but we don’t participate with the program. You might contact NC Housing directly for help. Their number is 919-877-5700
Ok. I have no debt on me at the time and am looking at a $196,000 home with 42 acres and make approximately $35,000 a year with two forms of credit over 750. Can you tell me what programs I would be qualified for?
I have been pre-approved for a FHA loan and would like to see about getting a down payment assistance grant. I have a credit score of 682. How can I get this process started?
Hi Eleanor, I’m wanting to apply for the $15,000 down payment assistant. I make under $67,000 a year, all three credit scores at 740-750, I have not owned a home before, and the house(s) I’m looking at are in Cabarrus Country within the $100k-$120k range.
I tried looking for an application online but was unable to find it.
Thanks in advance!
Does this still work if you’re wanting to buy land and having a stick built home built on it?
Hello, Is the 15k downpayment assistance still available?
Me and my fiancé have been approved for a home loan of 275,000 through State employees credit union. I was wondering if we were to purchase a home in Johnston county would we be eligible to receive down payment assistance through the grants that are offered? Does SECU participate with this program?
Marvin, SECU does not participate with this program But we would be glad to help! 919 649 5058
Janna yes it is, although there are not that many left. Please call us at 919 649 5058
If you want to buy the land separately, I think that would be hard… but if you are buying the land from a builder, who will build the home, that would be pretty easy.
Kody! I was on vacation last week! So sorry for the delay. You can apply here. You seems to be in the sweet spot for this program! 919 649 5058
We were on vacation last week, so I apologize. You must apply for the down payment assistance at the same time you apply for the mortgage. You can call us at 919 649 5058, or fill out an application by clicking n the green button on the right of each page
David,I’m sorry we were on vacation last week. You will likely need to go to a credit union to finance that many acres. We’ve seen folks who broke the land up into 2 sales. One for the home and like 5 acres, and the other for 37 acres (in your case). That much land is going to be a problem.
What I mean is If I have a 120,000 home I’m looking at will I get that amount or could I be told that I only qualify for 70,000 or something like that
You must qualify for the loan. That’s actually a LAW in NC.
My husband and I moved to the state of NC about a year ago and we would like to know if we qualify for the First Time Homebuyers Grant if we have only been renting within NC for a year? We were renters in our previous state and have never owned a home.
If State Employees isn’t part of the program, would I still qualify for assistance as a first time home buyer?
I’m in the process of purchasing a mobile home. Do y’all help in assistant these type of loan. If so what do I need to do. At this point I’m already approved for the loan.
Sorry for delay, this summer has been tough as I’m covering for a team mate who is out on Maternity leave. Yes, you definitely qualify for the Grant programs. We have a NEW program that came out on the 1st that GIVES the 3% down payment to you. Call us at 919 649 5058 and w can go over all of the programs you might qualify for!
You wold get your loan and your Assistance from us. We have multiple programs that you might qualify for. Please call us at 919 649 5058
We have a guy on our Team that helps folks with Manufactured homes, but in this state most folks go to Wells Fargo. Hope that helps. Our number is 919 649 5058
How far in advance of buying a home should you start looking into grants, loans, etc.?
Hi. My name is Amber Tasaico.this might be kind of long so you can get the whole picture but I was a previous first time home owner (bought in may 2011 and sold in april 2017). Everything was good with the house when we sold it as far as it not being a short sale or foreclosure. I did however have a loan modification done that was official in September of 2016 after I defaulted on three months of payments before I sought help to begin the process of the modification (feb. 2016). Fast forward to now. I have paid off nearly everything I have in collections and making payments on what is left, also paid off a car loan and a small credit card to help boost my credit score. My credit score should be around 640. My income is between $20,000-$25,000. We are living with my stepmother as of right now and do not pay any rent or utilities. I was wondering what i could qualify for as far as purchasing another home. Thank you for taking the time to read this.
Best regards,
Amber Tasaico
What if your credit score is lower than what they are asking?
We will need to help you raise your score.
With our company, you would have a 2 year waiting period since the Modification.
At least 6 months in advance, some folks reach out to us 2 years before they want to buy!
Hi Eleanor,
I reside in Fayetteville, NC and wanting to purchase a house soon by the beginning of 2018. I need help as to what steps I need to follow in order to see if I qualify for any down payment assistance programs. My middle credit score is almost at 640, which I’m sure it will reach there by the end of this year. I would like to purchase a home in Fayetteville but would like to know if my student loan debt will be an issue.
Thanks
Student Loan Debt! That leaves you only a couple of options… NC Housing offers a Conventional loan Down Payment Assistance program that should help. Please call us so that we can go ahead and get the ball rolling. 919 649 5058
Good evening I’m trying to buy my 1st home, trying to get a Grant and not sure how to go by applying for them. So I’m in need of some assistance please. Thanking in advance
Deborah Armstrong
Here’s some information about how to buy a new home for the first time. They are actually called No Repayment Loans… However, if you live in the home the right amount of time (with some of these are as little as 5 years); you may have no payments due, no monthly payments and no interest. There are some recapture features to these types of down payment assistance programs, but in the years we’ve been doing them, we haven’t had a customer who had to pay any money for them – which is why we refer to them as mortgage “grants.” If you are THINKING about buying a home – now is a good time to talk to us. It is NEVER too early to talk to someone about the whole process.
Could a grant be applicable to buying a home for investment rather than as a primary residence? Still a first home purchase!
No, these are just for Owner Occupied properties.
I have been renting from my landlords for 3 years and they offered to sell me the house. We do not plan on using a real estate agent. I have never owned a home before, my credit score is around 680. Income 63000/yr. They gave me a list of places to go to get FHA Loans but nothing about the grants. My lease ends March 2018 at which time I plan on purchasing the house. I need help with the process.
Carole, if you are in NC – please call us. We love helping first time home buyers walk through the steps of the process! If you are not in NC, let me know and I can find a certified Lender to help you.
Hi, I got pre-approved for a FHA loan through Navy Federal Credit Union for 180k for a modular home. Do you all help with closing cost and the 3.5 % down payment?
Antonio, please call us, we would love to help! 919 649 5058
What if score is just under 640? Any first time home buyer grants or anything ? I need to buy ASAP due to job transfer.
Lauren, call us. One of our team members will call you back and give you the best advice we can. 919 649 5058
Hello, would I need to get my mortgage through you in order to qualify for these other programs? Looking at relocating to North Carolina by this June. Just started the financial research and looking at homes online.
Hi,
I have been a renter for the past 4 years now and almost ready to take the leap into home ownership. This grant could help me get there. I am primarily looking at homes in Alamance or Orange County. Would this grant extend to a property in either of those areas?
Wendy, yes, you would get your mortgage with us, and the down payment assistance at the same time. We offer them throughout the state.
Yes, there are currently four programs that would work there. In addition, you might want to look at USDA Home Loans that are available in that area.
Hi, I purchased a house first time,but I have not granted down payment assistant, may I eligible for that being a first time home buyer pl .
You can not apply for the program once you own a home.
4 programs that would work in Orange/ Alamance counties? Can you point me in the direction of which programs you are referring to?
There are 4 Grants currently available in that area. 2 are primarily used with FHA Loans, for 3 or 5% of the down payment or closing costs, and 2 that are used with Conventional Loans, again 3 or 5%. The areas between Chapel Hill Proper and Graham, all the way up to Hillsborough and Mebane, down to Snow Camp – that whole area also qualifies for USDA Home Loan Lending, these maps might help. Please call us when you are ready to take the next step! 919 649 5058
Hi,
I am in guilford county and want to look into buying house for the first time. are there any grants available? i make about 45k a year gross income but i do have a lot of debt and no money saved for a down payment. My rent is getting ridiculously expensive and would love to just own a place of my own instead of throwing my money away in rent. do you think i have any options for any assistance?
Great News Stephanie! You can buy a house with very little money out of pocket. There are areas in Guilford county that qualify for USDA Home Loans, with no down payment required, there are also Mortgage Grants available for folks with your “profile.” We do a ton of loans in your area, have relationships with top Agents there, and would love to help you. Please call us for a free, no obligation appointment 919 649 5058.
trying to buy a house, but my father who lives in NY is going to be my cosigner, can we qualify for the help?
Yes, even if your dad lives in NY, if the property is in NC, and you are going to live in the home here – that will work 🙂 Call us at 919 649 5058
my score is around 580 exp 599 trans. I know you said the score needs to be at least 640. I’m looking for a usda loan. I see where you have posted to people in this thread that your company would help them get their scores up. What do you do to help get scores up? I/m in Forsyth county, looking in the Rural Hall area. I was already denied by ncsecu they want me to pay 2 things on by credit around 1200 each. and then told me they wanted 12 months of payment history. I had one cc from them that’s four years old never late and 1 victoria secret cc never late about 2-3 years old. He said I needed more credit so I applied last week for a capital one and a discover secured card that was approved. I didn’t really want to get anymore cards. I make 36k per year. I would like to get my score up to 640 or higher asap. Within the next 4-6 months if possible
We have a conventional loan with 20% down payment assistance, but they don’t help with closings costs which is about $5,500.
Is there a way to find help with closing costs?
Thank you
I don’t know much about the program you are referring to. You can always ask the Seller for help?
You don’t need scores at 640, here’s some information on USDA. If you will call us, we will be glad to give you a tailored plan to imporve your credit score. Unfortunately, the types of cards you had didn’t really help. You CAN do this! Congratulations on the decision to be a Home Owner!
Eleanor, I would like to purchase my first home and assistance in doing so. I am fearful that I will be turned down but realize if I don’t try I will never know if it’s possible. My current credit score is 680. I have been checking the housing market and have a housing budget in mind. I would also like to purchase a home in the Hillsborough/Mebane area, if possible. It would be wonderful if I qualify for first time buyer’s assistance.
What steps do I need to take make home ownership a reality?
Eleanor we’ve been renting in NC since August 2016 and will apply for a mortgage at the end of May 2018. After reading the qualifications you posted for the $8000 down payment assistance it seems we won’t qualify for that because we haven’t rented for 3 years. Is this so? We’re going conventional and are getting our ducks in a row as we speak so we’ll have everything you need when we apply. If we can’t do the $8,000 what (if any) program can we possibly use?
Terri, were you renting before you moved to NC in 2016? Because if you did, you would still qualify! Call us at 919 649 5058
Veronica! Just call us, or complete a loan application on the site, and we will call you. There’s no cost or obligation to contacting us. We will go over your budget, and help you qualify. We have agents in your area who can help you identify a property if you want us to help! 919 649 5058
I have been living with someone in Gates NC for three years, and before that I rented an apartment in Va. I want to stay in the Elzabeth City area on my own I work in Chesapeake Va on the outskirts of Moyock NC can you help or assist me
Yes, we work with folks all the time who live in NC, but work in VA. Just give us a call! 919 649 5058
Hi Eleanor,
I am a single mother with full time employment (almost 5 years with the same company – no child support). I have some credit card debt which I’m working to pay off but 90% of my debt is student loans. I don’t savings for a down payment but I would really like to end my apartment lease next April and move my kids into their forever home. Are there programs to assist women in my situation?
We’ve contacted you, thank you for your inquiry.
I currently live In new York. I am looking to buy a house and move to NC. I would need first time buyers to do it. I need help answering a few questions
Keisha you can call us at 919 649 5058 and we will be glad to go over your specific questions!
I’m currently buying a home that was in foreclosure in my parents name. I’m trying to get it refinance in my name but my credit need some work.
Shanta, as I messaged you directly, fixing credit to buy a home is absolutely possible. The strain in the situation is that you might not have very much time. Here are some tips for improving your credit.
I am a single mother and interested in buying a home in Cabarrus county. My credit score doesn’t meet the minimum requirement. Are there any Grant’s or assistance I could still possibly qualify for?
Hey what does your credit score need to be to get approved for a loan?
Looking to buy a home what does your credit score need to be to get approved?
We can make certain types of loans to folks with a high 580 – 600 credit score!
We can make manual USDA Loans down to 600 Credit scores, and FHA Loans down to 580.
Unfortunately, we need a 640 for the Grants, however, we can do USDA Home Loans below that credit score. You can all us at 919 649 5058
Do you have to have lived in NC and rented for 2+ years to qualify for a grant?
Trudi no. You just have to be moving into a home in NC as your primary residence. Most mortgage programs require your first paycheck from a job in NC – but not all. Call us and we can walk you through it 919 649 5058 (GREAT QUESTION!)
Hello, when is a good contact time?
I’m looking to buy a home soon, my credit scores are in the 600 range, income right under 40k, but I think my DTI ratio my hold me back. I would like a USDA loan, what would I qualify for? Loan and/or down payment assistance?
Ashley – we need to ask a few more questions to give you a solid qualification number. Please call us 919 649 5058 – it takes about 30 minutes for the first conversation.
Hey. My name is Kiana. Im currently in process of buying a home. I was approved by my bank and in the process of making an offer. I’m looking for assistance in down payment or closing cost. I’m in the law enforcement field, do I qualify for grant? My credit score is in the low 600s.
We will email you directly, but I strongly suggest that you call us at 919 649 5058, we’d love to talk about your specific circumstances. Congratulations!!!
I am looking to know if there are any type of down payment assistance programs available in NC as I am purchasing a manufactured home. The home is a doublewide preowned home on brick foundation on 1 acre .
Brandi, unfortunately USDA does not accept pre-owned Manufactured housing, and NCHFA does not accept that either. It’s possible, based upon where you are purchasing that a local municipality will accept pre-owned housing. Without a down payment assistance program, you will likely need 3 to 3.5% for a down payment. Best of luck!
Hi,
Have a meeting in NC that explain more about it?
I heard that you have to go to the meeting to be approved.
Good afternoon. Me and my wife are looking to relocate with our 6 kids.she has a score of 615 and mine is about 620. We were looking at a house for $240,000. Wanted to know if we could qualify for a conventional loan grat
I am looking to buy a house for the first time. I make under $30,000 per year.I need to know what grants and or loan prograns that I qualify for. I am looking to buy in South Carolina or North Carolina rural area.