Down Payment Assistance

Help for Charlotte, NC Home Buyers

It’s always a smart idea to research what you can afford before you begin the home buying search. The program offers competitive interest rates with down payment assistance for up to 5% of the mortgage loan amount, fully forgiven after 15 years- for first time and move up buyers.

What Types of Mortgage Assistance Can I Find?

The Mortgage Credit Certificate and the N.C. Home Advantage Mortgage can help you save on taxes or provide you with a low-interest loan, respectively. This program enables first time buyers to save up to $2,000 a year on their federal taxes.

How Do I Qualify for These Programs?

For the Mortgage Credit Certificate, you must meet specific requirements for income in order to receive a federal tax savings of up to $2,000. Essentially, you’re able to receive 30% of the interest of your mortgage payment in the form of a tax credit. That way, you can use this money on your house payment.

For the N.C. Home Advantage Mortgage, home buyers can receive a low-interest rate mortgage or an interest-free mortgage for closing costs or a down payment. Some of the requirements for home buyers who qualify for this loan include:

>having an income of no more than $77,000
>your credit score is no lower than 640
>you legally reside in the United States
>you are a move-up or first time home buyer planning to buy a new or existing home

Questions About Buying a Charlotte, NC Home?

Be sure to get in touch with NCHFA for more information. Feel free to contact our office if you have any questions about home buyer assistance or home buying in Charlotte, NC.