Downpayment Assistance Program for the First Time Home Buyers in North Carolina
Page 2

The program will enable you to pay at least $1,000 of your own money and then shoulder a maximum amount of up to $8,000 which is not payable until 30 years after you purchased your house. In addition, this Downpayment Assistance Program can also be used in conjunction with the FirstHome Mortgage Program that is also offered by the North Carolina HFA.

If you wish to considered eligible to apply for the Downpayment Assistance Program, you should be able to satisfy the following eligibility requirements which states that you should be:

1) A first time home buyer or a veteran who is planning to acquire a home in a targeted area

2) A person who has not owned a home or occupied it as his/her primary residence for the last three years

3) A person whose annual income does not exceed the limits that are set by the North Carolina Housing Finance Agency

4) A person who wishes to acquire a property whose selling point does not exceed the limits that are set by the North Carolina Housing Finance Agency

5) A citizen and a legal resident of the United States of America

6) A person who is planning to occupy the purchased home within 60 days before closing.

The Downpayment Assistance Program is naturally not due until after 30 years of procurement, but payment will have to made earlier if the borrower opts to sell, transfer, or refinance his North Carolina HFA-financed property.

Downpayment Assistance Program for the First Time Home Buyers in North Carolina
  Back to Page 1

About The Author The TopGovernmentGrants Editorial Staff maintains one the most comprehensive Websites offering information on government grants and federal government programs. The staff also provides resources to other Websites with information on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.

---

Keystone Government Loan Program for Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been running the Keystone Government Loan Program in which it intends to provide first mortgage financing on loans that are insured by the Federal Housing Administration, the Rural Development, and the Department of the Veterans' Affairs.

---

Downpayment Assistance Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Authority has been running the Downpayment Assistance Program in order to financially assist first time home buyers in the process of covering the downpayment and closing costs of purchasing a home.

---

Government Grants within the United States Housing Sector
The government has established quite a slew of agencies that are specifically designed to administer housing programs and assist the needs of homebuyers, renters, and property developers.

---