First Time Home Buyer in NC? We Found Help!

(Last Updated On: September 14, 2018)

If you want to purchase a house in North Carolina, you could get help from state and local resources. Being a first time home buyer in NC doesn’t have to be hard and an actually be affordable!

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Get more help buying a house with low income here!

You could get help with your down payment if you’re a first time home buyer in NC.

You could get help with your down payment through a USDA loan. If you’re a first time home buyer in NC and you live in a rural area, you might qualify for the rural housing loan from the USDA. The loan has certain income requirements and credit requirements, but it doesn’t require you to pay a down payment. It may also help you cover the closing costs of purchasing your home.

The North Carolina Housing Finance Agency could help if you’re a first time home buyer in NC. There are different requirements that you’ll need to meet to qualify for help from NCHFA. You can apply for the program at any time, but they may not always be able to help with down payments.

The Center for Homeownership has grants they provide to help you pay for your down payment. These can be used in combination with FHA, alternative mortgages and traditional mortgages. You’ll need to meet certain income requirements to get help through the Center for Homeownership.

Here’s help if you’re a first time home buyer NC.

FHA loans could help you with lower interest rates and less stringent credit requirements. This non-traditional type of home loan can help you save money especially if you don’t have a traditional credit profile. You must be a first time home buyer in NC to qualify for the FHA loan.

The Habitat for Humanity might be able to help if you’re a first time home buyer in NC. The program works for people who are in need of homes and who have no other options. There is a waiting list for the program. You may also be required to meet other guidelines. The program requires all participants to go through homeownership counseling and does require some sweat equity. While professionals will build the house, you will be required to put some “equity” into it by helping build it.

We found programs for veterans & military.

You might be able to get a loan backed by the VA if you’re a veteran or you’re an active duty military first time home buyer in NC. You will need to find a loan that works for you, but you can use VA backing to guarantee the loan. Buyers might need to meet certain requirements to qualify for the VA backing, but it usually means lower down payments, no closing costs and even better mortgage rates!

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Your county could help with buying a home!

Some counties might help people who are a first time home buyer in NC. You could get help from your county with down payment assistance, closing costs and even low-interest loans!

Durham County

The Durham Housing Assistance agency might be able to help if you’re a first time home buyer in NC looking for help in Durham. You can use the agency to help you find homes that are low-cost and ones that already qualify for their programs. They offer assistance with down payments and with closing costs. You could qualify for help with lower interest rates from

Edgecombe County

The Rocky Mount Housing Authority might be able to help you find homes that are available in the area. While they do not provide financing, they could help you connect with resources to get affordable financing for your home. If you live in the Rocky Mount area or you’re a first time home buyer in NC looking to buy in Rocky Mount, the housing authority might be a great place to begin looking for your new home!

Forsyth County

Do you live in Forsyth County or are you looking for a home in the county? You might be able to get help getting ready to purchase a home. They offer free consumer credit counseling services for people who want to purchase a home or who simply want to improve their credit. You will need to register for the counseling services, but they are free to residents of Forsyth County.

Guilford County

The Greensboro Housing Coalition may be able to provide down payment loans or assistance. You can use these only with specific types of mortgages and they may not work with traditional mortgage programs. You’ll need to apply for the program through the coalition. Not everyone will meet the requirements. You may be required to have a certain credit score to get approved for help through the coalition.

Wake County

The Raleigh Downtown Housing Corporation might be able to help you if you’re a first time home buyer in NC trying to find housing in Raleigh. The program works to bring renewed housing to the city and might be able to help you find the perfect home. You will need to visit the corporation to find out if you qualify for help.

 

Serious about buying a house? Don’t miss these other resources!

Get more free stuff in North Carolina!



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