15000 Special Down Payment Assistance Huge Deal For Buying

15000 Special Down Payment Assistance Huge Deal For Buying

$15,000 Special Down Payment Assistance

If your customers are looking for a home in Cabarrus, Cumberland, Guilford, Johnston or Mecklenburg Counties, they may be eligible for $15,000 in down payment help in the form of a deferred, forgivable, five-year loan at zero interest. The loan is forgiven at a rate of 20% per year each year that your customers stay in their home, with the loan fully forgiven after year 5.

This down payment assistance is available with our NC Home Advantage Mortgage™ to help your clients afford to purchase a home of their own. Using our down payment assistance, you can offer your customers 100% financing on their loans, minimizing the upfront investment for your clients. See eligibility requirements below. 

The $15,000 down payment assistance for first-time home buyers is funded through the U.S. Department of the Treasury’s Hardest Hit Fund®. The five counties were selected based on a defined set of distressed housing market indicators and other criteria approved in cooperation with the U.S. Department of the Treasury. 

Buyer Eligibility

Your clients may be eligible if:

  • They are a first-time home buyer or military veteran

  • They have a credit score of 640 or higher

  • They complete an in-person or online home buyer education course

  • Their annual income doesn’t exceed certain limits (the same as those for the Mortgage Credit Certificate)

Property Eligibility 

  • Previously-occupied homes with a sales price at or below $245,000

http://www.nchfa.com/homeownership-partners/lenders/15000-special-down-payment-assistance---

for more details, go towww.fenderhomes.comto meet our mortgage person....








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Dated: October 19th 2016
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