DOWNPAYMENT ASSISTANCE

Dated: 06/30/2018

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Image result for free affordable housing picsMany folks in NC are unaware of the NC Housing Finance Agency. It's purpose is to create affordable housing for residents in NC. This year it is offering a new $8,000 downpayment assistance product. Here are the program details and guidelines from NCHFA:

*$8,000 Down Payment Assistance (DPA) at 0% interest rate

*DPA is deferred for the first 10 years, forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15

*New and existing properties are eligible (used manufactured homes are not eligible)

*Max $250,000 sales/acquisition home price

*For all 100 Counties in North Carolina

*First time home buyers (haven't owned a home in the last 36 months) and veterans (must be honorably discharged, not active duty) - must be Legal Residents of the US

*Income limits vary by county and household size

*Max DTI (Debt to Income Ratio) 43%, AUS Approval, 640 minimum credit score

*CANNOT be combined with a Mortgage Credit Certificate (MCC)

If you are letting a downpayment keep you from buying a home, call me and let me connect you with my preferred lender. Together, we can help you realize your dream of home ownership!

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Shawn Winstead

Are you overwhelmed with the idea of buying or selling a home? Then you should take advantage of the many services a Triangle real estate agent can provide. You don’t have to do this alone! A profes....

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