Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North Carolina
Page 2

This program is basically intended for homebuyers whose income is 80% of the area's median income. Also, this loan program is only obtainable through selected nonprofit or government agencies and is only made available to eligible home buyers who work through local agencies under the North Carolina Housing Finance Agency’s New Homes Loan Program.

In addition, the North Carolina Housing Finance Agency is also offering another beneficial program called the Mortgage Credit Certificate Program. This program allows home buyers who satisfy the qualifying income requirements, sales price, and first-time home buyer stipulations to obtain a Mortgage Credit Certificate which can be utilized in process of procuring a federal tax credit.

This Mortgage Credit Certificate, otherwise referred to as MCC, will work in a manner that enables first time homebuyers to claim 30% of the interest that they pay on their mortgage, which can then be used to pay off their federal income taxes.

Any Mortgage Credit Certificate can be used in conjunction with any mortgage loan program including some adjustable rate mortgages except the NC HFA's FirstHome Mortgage Program.

The MCC will not be offered directly by the North Carolina Housing Finance Agency, instead it is made available by third-party lenders that are working with the agency.

If you wish to read more about this programs, you can contact the NC HFA office or check out its official website.

Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North Carolina
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on grants for youth programs and home improvement grants.

Additional Resources

category - Home Buying Programs

Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

---

How to Get a Government Home Loan with Low or Moderate Income
The government provides loans to those individuals who have low to moderate income for permanent residence in rural areas. To qualify for these government loans is not that hard and the restrictions ...

---

Affordable Housing Partnership Program for the First Time Home Buyers in California
The Affordable Housing Partnership Program is a housing opportunity that enables first time home buyers in the State of California to seek financial assistance from lending institutions that have formed a partnership with CalHFA for the purposes of this endeavor.

---

Ohio Heroes Program for First Time Home Buyers in the State of Ohio
One of the most popular programs of the Ohio Housing Finance Agency is the Ohio Heroes Program which is exclusively intended for active military men, active reservists, veterans, firefighters, emergency medical technicians, paramedics, and several other individuals with noble professions.

---