Are you contemplating the idea of owning a home or condominium but are uncertain about managing a mortgage or gathering funds for a down payment? If you’re a North Carolina, South Carolina, or Florida resident, consider yourself fortunate. Our Empowered down-payment assistance program is designed to support potential homebuyers. These initiatives cover a spectrum from affordable mortgages to down payment assistance, and some even allow for combined benefits.
With the aid of these programs and a participating mortgage lender like 1st Advantage Mortgage, you may find yourself closer to realizing your dream home sooner than expected. Many of these programs are particularly advantageous for first-time homebuyers.
Empowered Down Payment Assistance Program
The Empowered DPA, available through participating mortgage brokers as a down-payment assistance program, offers a fixed-rate mortgage (FHA mortgages qualify). While ideal for first-time buyers, it is also accessible to those looking to “move up.” The program includes down payment assistance of up to three & a half percent. This assistance, presented as a forgivable grant, is forgiven at closing.
Qualifications:
- Must purchase the home in North Carolina and make it your primary residence (move in within 60 days of closing).
- Loan amount should not exceed $498,254 in areas that are not high-balance.
- Credit score must be 620 or higher.
- Must be a legal U.S. resident.
Eligible Properties:
- Single-family homes
- Townhouses
- Condominiums
- Duplexes (only FHA loans qualify)
- Manufactured homes
How to Apply: Learn more about the Empowered DPA program and contact us when you’re ready to begin.
PURCHASING A NORTH CAROLINA HOME WITH ASSISTANCE
1st Advantage Mortgage offers a variety of programs to help turn your housing dreams into reality. We can assist you in navigating questions about which program is right for you and how to apply.
However, don’t limit your search for assistance to the state. There are also federal housing assistance programs you may qualify for based on your occupation, housing history, and other qualifications. Explore the U.S. Department of Housing & Urban Development (HUD) to learn more about these additional programs. Alternatively, reach out to a 1st Advantage Mortgage coach; we’re here to help you find the best mortgage for you.
