First Time Homebuyer Programs

First Time Homebuyer Programs

First Time Home Buyers

One of the most challenging obstacles to buying your first home is saving enough money for the down payment and closing costs. By definition, first time home buyers do not own a home and therefore must currently be renting. How can you pay rent and save for a down payment at the same time? For many people, it is virtually impossible.

The state of North Carolina provides incentives – mostly financial assistance – for its residents who are first time home buyers and need help with the down payment and closing costs. The agency in North Carolina that provides assistance to first time home buyers is The North Carolina Housing Finance Agency.

In North Carolina, there are no outright first time home buyer grants available, but there is one program that is very close: The American Dream Downpayment Initiative. First time home buyers can get up to $8,000 for use toward the down payment and closing costs. This is actually a loan, but carries no payments and has a zero percent interest rate. The $8,000 doesn’t have to be paid back for 30 years. In effect, you are getting a grant of the value of interest on a $8,000 loan for 30 years, which at 7% interest rate, amounts to over $9,700 in interest that you would save.

There are also many local First Time Homebuyer Programs:

Cumberland County First Time Homebuyers Program (FTHB) (910) 323-6112

Durham First Time Homebuyers Program (FTHP) (919) 560-4570

Orange County HOME Down payment Assistance Program (919) 644-3056

Raleigh Down Payment Assistnace Program (919) 996-4330

Wilson County Affordable Home Ownership Program (252) 399-2230

 

Heritage In Wake Forest

Heritage In Wake Forest

Wake Forest NC New Home Neighborhoods –
Heritage Builders are Committed to Excellence
One ride through Heritage and you instantly see the quality of construction by the New Home Builders in Wake Forest.  The commitment shows in the beautiful rolling hills and sidewalks line the streets, there are multiple architectural styles and price points in Heritage.  The Custom Builders and Developers included a golf courses, pools, clubhouse, and a fishing pond.  Shopping and dining is close by – this is a great planned community!
Heritage Golf Club, Wake Forest NC

Semi-private course that is so well maintained you would swear it is private.  Afternoons on the weekends are the best bet if you want to beat the crowds.

Links style type course with big pot bunkers that will steal a stroke if you happen to go in.  #6 is a par 5 that is the #1 handicap hole on the course but most golfers will not find this hole that difficult if they can steer clear of the water. Very fun course to play with great service all around!

Being a solid investment and proven value to homebuyers is just part of why Heritage was named #1 Master Planned Community in North Carolina, an accolade we have received three times in our 11 year history. [Read more…]

5 Things NC First Time Homebuyers Should Know

5 Things NC First Time Homebuyers Should Know

First Time HomebuyersIn February of 2014 – the newest part of the Government’s program to help people buy a house is in place!  This is great news for folks interested in NC First Time Home Buyer Programs!

If you are ready to move out on your own, and Kiss Your Landlord Good-bye…  CONGRATULATIONS! 

We offer first time homebuyer programs from NC Housing Finance Agency.  The NCHFA program allows you to purchase a home with little or no money out of pocket, can offer you a Tax Credit (in the form of MCC) and might allow you to purchase a home with a credit score of less than 640! (they accept a 600 credit score!)! 

So, if you are a 1st time home owner (or you haven’t OWNED a home in 3 years) ask us about the NC First Time Home Buyer Programs we have available to you! [Read more…]