01/26/2017
Let us know if you are looking at buying a home in Johnston County...
There is a $15,000 NC Home Advantage Program that could help you with downpayment assistance...
Let us know if you are looking at buying a home in Johnston County... There is a $15,000 NC Home Advantage Program that could help you with downpayment assistance...
This special LIMITED TIME ONLY down payment assistance for first time homebuyers is funded through the US Department of Treasury's Hardest Hit Fund. The five counties selected for this program were chosen to support homeownership in areas that experienced especially high rates of foreclosures during the recent recession.
General Program Overview:
$15k down payment assistance available ONLY in five counties which includes Mecklenburg County, Cabarrus County, Cumberland County, Guilford County, and Johnston County
The $15k down payment assistance may be used on all loan types including FHA loan, Conventional loan, USDA loan, and a VA loan
These funds can NOT be combined with other NCHFA DPA programs but ok to use with NCHFA's MCC Credit
Interest rates vary daily. Check today's rate at NCHFA Rate checker
Must be a First Time Homebuyer or have not owned a home in the past 3 years
Subordinate Loan Terms Include...
5 year term at 0% interest and forgiven at 20% a year in years 1-5
DPA funds may be used towards down payment, MI, pre-paids and or closing costs
DPA loan is repayable if buyer no longer occupies property, refinances, or sells before fully forgiven in five years
Property Criteria:
Property MUST be an existing home. NEW homes or new construction homes are NOT eligible
Max sells price can not exceed $245,000
Borrower Requirements:
Credit score must be *640 or higher (* subject to change)
First Time Homebuyers ONLY or no prior ownership within the last 36 months
TOTAL household income must not exceed the income limits. See NCHFA income Limit Chart
Pre-purchase education certificate required. Homebuyer Education can be done online or in person
