NOTE: THE FUNDS FOR THIS 2015 LOAN PROGRAM ARE EXHAUSTED AND IT IS NO LONGER AVAILABLE. FOR OTHER DOWN PAYMENT ASSISTANCE LOAN PROGRAMS, CLICK HERE
Great news. There is a new $15,000 down payment assistance program IS LIVE! as of September 15, 2015 (from the North Carolina Housing Finance Agency).
Here are some details:
- $15,000 down payment assistance for homes in Johnston, Mecklenburg, Cumberland, Guilford, and Cabarrus counties
- Can be used as a combination for down payment and closing costs
- The amount is fully forgivable after 5 years (20% per year)
- Money is from US Treasury and will likely last 1.5 years (2000 loans)
- Must be first time home-buyer, or have not owned a home in 3 years
- 640 minimum credit score with minimum of 2 scores per borrower required (get all 3 credit scores free here)
- Maximum Sales Price will be $245,000
- Rates change daily. Click here to see where they currently are (select bottom rate guide – 5% Down Payment Assistance)
- Maximum household incomes vary per county (see below)
If you want to see if you are eligible, or have questions, contact me!
Full details from NCHFA: