Down Payment: DPA

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We have great loan options for Home Buyers! The following products are available now to help you buy your new home.

NC Home Advantage:

    • Up to 100% Financing PLUS Financing of closing costs with a *Silent Community Second ( *No Payments or Interest for the forgivable Second Mortgage )
    • Combine this product with Down Payment Assistance and the MCC Tax Credit for maximum benefit.
    • Currently available for USDA, VA and FHA
    • Minimum 640 Credit Score (Set by NCHFA)
    • Income Cap is 85K for an INDIVIDUAL – Household income is not counted
    • Amazing Turn Times

*NCHFA Down Payment Assistance (DPA):

    • $15,000 DPA in certain Counties including Guilford, Mecklenburg & Cabarrus ( fully forgivable after 5 years )
    • Up to 5% DPA to be used in conjunction with NC Home Advantage
    • No monthly payment or interest
    • Silent Second forgiven gradually
    • No recapture unless there is significant equity, increase in income AND property is sold within 9 years
    • Very Affordable Down Payment Assistance

Get your Mortgage Tax Credit with the MCC:

    • This product can be used with ANY mortgage product, it is NOT limited to NCHFA
    • Tax credit up to $2000 PER YEAR for the life of ownership EVEN after a refinance!
    • Income is set per county and is based on total household income (similar to USDA)
    • 2 Acres Max
    • FTHBs and Vets OR anyone who has not owned a home in the last 3 years.
    • 240K Purchase Price Cap
    • Tax Credit can be used to reduce DTI. For Example: $2000 Credit / 12 months = $166. The $166 is added to INCOME to reduce DTI – this can make a big difference for lower income or borderline borrowers

The best news is that these are EASY! They used to be much more complex but not any longer. Lenders have struggled with executing this program in the past but it is now a very streamlined process. If you have any questions please let contact us and we would be happy to help you better understand this program.

Proudly Serving the State of North Carolina and the Communities of Greensboro, Winston-Salem & High Point.

Mortgage loans do not have to take forever. Our team will help you get your loan closed smoothly and quickly.

Why Close on Time… When You Can Close Early?