What Are First Time Home Buyer Loans in North Carolina?
In addition to these statewide programs, there are first time home buyer loans NC local and community-based assistance programs that can be stacked with state loans. Examples include: Community Partners Loan Pool (CPLP) – offers significant down payment help (sometimes up to $50,000) for low-income buyers when paired with a Home Advantage Mortgage. City-specific programs (Raleigh, Durham, Charlotte, Greensboro, etc.) – many cities offer forgivable loans or grants to local first time buyers, often with income limits and other criteria. Some lenders and credit unions in NC also offer their own first-time buyer mortgage products, including options with 100% financing or additional benefits. How These Loans Make Homeownership Easier These programs reduce the financial barriers to buying your first home by: Lowering or eliminating the down payment requirement. Offering competitive interest rates and stable monthly payments. Providing deferred or forgivable assista...