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

Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Authority has been administering the Homebuyer Mortgage Program for First Time Homebuyers. The program is capable of offering home loans and below-market interest rates to first time homebuyers who reside in Connecticut and who are planning to acquire a property that is located in Connecticut.

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Construction Incentive Program for First Time Home Buyers in New York
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.

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Section 8 Housing Choice Voucher Homeownership Program
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Downpayment Assistance Program for the First Time Home Buyers in North Carolina
In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.

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