Nc home advantage tax credit if you are a first time buyer you haven t owned a home as your principal residence in three years or a military veteran you may qualify for a tax credit up to 2 000 per year if you apply and are approved for a mortgage credit certificate prior to your home purchase. One first time home buyer grant provides you with 3 that can be used for closing costs or a down payment on a conventional loan or a fha loan.
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In north carolina there are three different first time home buyer grants available.
First time home buyer nc program. Managed by the north carolina housing finance agency the program also offers down payment assistance of up to 5 of the total loan. Read more about the program. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven deferred or subsidized in some manner until resale of the mortgaged property.
Locate contact information for state agencies employees hotlines local offices and more. Repayment of the down payment is not required unless the property is sold refinanced or transferred within 15 years. If you are a first time home buyer or military veteran and qualify for an nc home advantage mortgage you may be eligible for 8 000 in down payment assistance with the nc 1 st home advantage down payment.
Similar to the other down payment assistance options available with the nc home advantage mortgage this down payment help is a 0 percent deferred second mortgage which is forgiven 20 percent per year at the end of years 11 15 with complete forgiveness at the end of year 15. The other program allows 5 in down payment grants for all government loans. The durham housing authority dha offers first time homebuyers a range of services to help make the homeownership process as smooth as possible.
Mortgage assistance for home buyers in north carolina nc home advantage mortgage program this program provides stable fixed rate mortgage and down payment assistance of up to 5 percent of the loan amount. First time home buyers in north carolina can benefit from the stable fixed rate mortgages offered by the nc home advantage mortgage. See state government contacts visit ncpedia.
North carolina first time homebuyer programs lendingtree there are multiple programs specific to the state of north carolina that are designed to make homeownership more attainable. First time homebuyer affordable homeownership opportunity program brochure. The affordable homeownership opportunity program provides funds to assist with the down payment and closing costs associated with the purchase of a home by a low or moderate income first time homebuyer in forsyth county.
First time home buyers and military veterans who qualify for an nc home advantage mortgage may be eligible for 8 000 in down payment assistance under the nc 1st home advantage down payment.
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