Are you in need of funds for a down payment?

Many people struggle to save funds for a home down payment, but today there are several affordable options available to help buyers achieve homeownership with little to no down payment.

NC Housing Finance Agency Down Payment Assistance 

• NCHFA provides several products that bridge the down payment gap. NC residents have potential assistance for both first time and subsequent buyers. The NC 1^st Home Advantage program provides a fixed rate first mortgage combined with $8000 in DPA. The $8,000 DPA may be used towards down payment and/or closing costs. Plus the $8,000 DPA has no interest or payment required and is available only to first-time home buyers.

• NCHFA offers another DPA without the first time home buyer requirement. It provides the traditional first mortgage along with DPA in the amount of 3 or 5% of the first mortgage amount. Like above, the 3 or 5% of the first mortgage amount may be used towards down payment and/or closing costs.

VHDA (Virginia Housing Development Authority) Down Payment Assistance Grant:

• VHDA provides both down payment assistance and grants for Virginia home buyers. Primarily, their programs are for first time home buyers, although there are exceptions.

SC Housing Down Payment Assistance:

• For SC buyers we offer the SC Housing $6,000 DPA product. When combined with an FHA or USDA loan, the $6,000 may contribute towards down payment and/or closing costs. Unlike NCHFA, there is a repayment feature on this assistance. Although, this is traditionally a first time home buyer product, there are exceptions to this requirement.