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

FirstHome Mortgage Program in North Carolina
One of the programs of the agency is the FirstHome Mortgage Program wherein they seek to offer 30-year fixed interest rate mortgages to first time home buyers in the State of North Carolina.

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Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

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State of New York Mortgage Agency
The State of New York Mortgage Agency, otherwise referred to as SONYMA, is an agency established in the year 1970 in an attempt to address the shortages of funds within private banking systems that are specifically intended for residential mortgages within the State of New York.

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