First Time Home Buyer Nc Program. Let s dig into the details. Similar to the other down payment assistance options available with the nc home advantage mortgage this down payment help is a 0 percent deferred second mortgage which is forgiven 20 percent per year at the end of years 11 15 with complete forgiveness at the end of year 15.
See state government contacts visit ncpedia. If you have 1 2 people in your household your income must not exceed 120 of the average median income. In north carolina there are three different first time home buyer grants available.
The home must be located within the city limits of greensboro.
Complete a hud approved homebuyer education course. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven deferred or subsidized in some manner until resale of the mortgaged property. You can not exceed a 43 dti ratio. The durham housing authority dha offers first time homebuyers a range of services to help make the homeownership process as smooth as possible.