i1Are you a First Time Homebuyer, dreaming of the day when you can sit among your boxes, in your new home?
HUNDREDS of first time home buyers in Cary, Apex, Holly Springs
are doing just that, and taking advantage of the now â€œfamousâ€ $8000
Downpayment Assistance program available through NC Housing Financing!
These same people are purchasing wonderful $300,000 plus priced homes using FHA Financing!
The North Carolina Housing Finance Agency, is advancing up to $8000 as a credit to buyers for their 3.5% downpayment. (of course there are some income qualifications, etc)
Here are some other ways you CAN obtain theÂ 3.5% downpayment for FHA loans
Save it! if you have enough money in your IRA account, you might be able to borrow against the account (check with your employer) for your home purchase!
Tax Return Refund:Â If you are getting a refund from your taxes â€“ use it to buy a house!
Gift: You can get a gift of the entire amount from
family and friends, you can even use a BRIDAL REGISTRY to show who gave
you the individual amounts!
Grant from your Employer: there are some pretty specific guidelines about this â€“ but many businesses, and municipalities offer these programs!
Sale of an Asset: would you rather have a Bass Boat or a house?Â For some guys, it comes down to this!! (If you are thinking of this, please call us for details of how to document it!)
As you might know, you do NOT have to be a First Time Homebuyer to use FHA financingâ€¦ but if you want to take advantage of the$8000 Down Payment Assistancefrom NCHFA, you need to be either a First Time Home Buyer, or you must not have owned a home in the last 3 years.
FHA does NOT have a maximum income requirement (like USDA), they do NOT have a geographical footprint
(meaning you can only purchase some addresses, they only cap the
maximum loan in each county)â€¦ Unlike VA loans, FHA does not require that
the borrowers are married!!
Need more ideas??Â You can also buy a HUD Foreclosed home
for just $100 downpayment!Â There are TONS of options available.Â Donâ€™t
let the image of a very small piggy bank hold you back from owing a
If you have questions about purchasing a home in Cary, Apex or Holly Springs using a FHA mortgage, please call Steve and Eleanor Thorne, NC Mortgage Experts, 919-649-5058