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.