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First Time Home Buyer

First Time Homebuyers

If you are dreaming of buying your first home, but not sure you can afford it, a low-interest mortgage and down payment assistance may be just the help you need. The North Carolina Housing Finance Agency helps make home ownership affordable for first-time buyers by selling tax-exempt Mortgage Revenue Bonds and issuing Mortgage Credit Certificates (MCC) under federal authority. If you are a first-time home buyer, you may be eligible for

  • a competitive interest rate mortgage
  • down payment assistance up to $8,000.

If you qualify, you may be eligible for a Mortgage Credit Certificate (MCC). This federal tax credit can lower your income-tax liability, dollar-for-dollar, leaving you more money to use toward your mortgage.

NCHFA offers 30 year, fixed-rate FHA, VA, USDA, and conventional mortgages at interest rates that are below or competitive with market rates  to first-time home buyers.

Home buyers who need help with the down payment and closing costs may qualify for interest-free, deferred second mortgages up to $8,000. You pay $1,000 from your own funds, and the loan pays up to $8,000 of the balance.

Payment on the principal isn't due until 30 years from the date of the loan. Payment is due earlier if you sell, transfer, or refinance your home; if your loan goes into default; or if the home ceases to be your principal residence.

To qualify for the $8,000 down payment assistance, your income and the home's sales price must fall within established limits. You must also have a minimum credit score of 650 to qualify for down payment assistance. For income limits and more information on these programs contact Ashley McKenzie-Sharpe or http://www.nchfa.com/


Fairway Independent Mortgage Corporation, NMLS # 2289 NMLS #100776
2098 Frontis Plaza Blvd, Winston Salem, NC  27103
Direct:  (336) 714-1556
Office:  (336) 748-4599
Fax:  (855) 611-8781
Cell:  (336) 575-9448
Copyright © 2018 Fairway Independent Mortgage Corporation FIMC NMLS#2289
Complaints may be directed to:
(877) 699-0353 or customerservice@fairwaymc.com
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