If you are a First Time Home Buyer considering a purchase in NC, learn more about getting a FHA mortgage! The Down Payment on a FHA loan is only 3.5%, and that can be a gift. In addition, there’s a NCHFA Program that offers First Time Home Buyers in North Carolina a 3% Down Payment Grant to help with closing costs and Down Payment. It’s easier than you think! WOW! 89,000 People in ONE MONTH!
Additionally, with a FHA Home Loan in North Carolina, they will accept a Gift Registry. If you are getting married, FHA Home Loan Underwriters will accept a detailed gift registry that shows the person’s name, and the amount of the gift! So your grandmother could give you $125, your cousins might slip $100 in a card – and as long as you have the official FHA Home Loan Bridal Registry documenting where the money is coming from – NC FHA Home Loan Underwriters will accept it! If you need a registry for your guests, call us at 919-649-5058.
FHA Home Loans are also have pretty flexible Credit Score requirements. FHA Home Loan guidelines state that medical collections do not need to be paid off before closing. If you have a really big medical collection (like over $1200) a FHA Home Loan Underwriter might require it – so before you pay a ton of medical collections off, call us, and let us check your credit scores.
If you’ve previously been through a Bankruptcy, Short Sale or Foreclosure, the good news is that FHA Requirements in NC have the shortest waiting periods. After you’ve re-established your credit, a period of at least two years must have elapsed since the discharge date
First Time Home Buyers can also apply for the NCHFA First Time Home Buyer Tax Credit! The minimum credit score allowed for this program is between 620 and 640. There are also Mortgage Credit Certificate Income Limits which vary Per County in NC.