NC_HFACheck out the NC Home Advantage Mortgage down payment program available to residents of Cabarrus, Cumberland, Guilford, Johnston and Mecklenburg Counties, and see if you’re eligible!

Buyers must have an income under $67,000 and a credit score of 640 to be considered.

Here’s how it works:  if you are buying a home in one of the above counties, you may be eligible for $15,000 in down payment assistance in the form of a five-year, deferred loan at zero interest.  Even better, stay in your home for five years and you won’t need to repay the down payment loan- it is forgiven at 20% per year for each full you reside in the home.

First-time home buyers may also benefit from a Mortgage Credit Certificate (MCC), which provides a federal tax credit of up to $2,000 per year.  Want to know more?  Read more for details.