This is the LAST WEEK to register a loan with NC Housing (also known as NCHFA) that has credit scores between 600 and 620. Effective this weekend, minimum credit scores for first time home buyer programs go UP! There’s a new First Time Home Buyer Program in NC: Available March 1, 2013.
There are just a few more days until the new mortgage program starts. The program is a FIRST in NC and allows us to combine the FHA, VA and USDA Home Loan with powerful new benefits! NC Housing (also known as NCHFA) refers to the program as the N.C. Home Advantage Mortgage.
March 1st the new mortgage program goes live (details on the NEW NCHFA First Time Homebuyer Program). You may see details about it in advertisements that are currently running in multiple real estate outlets. Don’t be left out!The last day to make a FirstHome reservation under the CURRENT 600 minimum credit score program will be February 28th at 6:00pm. What does THAT mean to you? If you are looking for a home, and you have 2 credit scores between 600 and 620 – you will have VERY FEW OPTIONS for a mortgage loan after this week in NC. We used the NCHFA program to help folks with scores in this range purchase homes! (Here’s some basic Credit Score Help)
We will honor all reservations made through this Thursday under the old program for their full 60-day lock. For example, that means a FirstHome reservation made on February 28th will expire on April 28th.
On March 1st the NEW NCHFA program will offer a forgivable Downpayment Assistance Program – and it allows those who are NOT first time home buyers to use the Program.
Please call Steve and Eleanor Thorne 919 649 5058 if you’d like for us to pre-qualify you to purchase your First Home (or your second or third!) We think that the fact that you can use this program as a “move up” buyer is going to be HUGE!
I try and answer all questions :)