Down Payment Help for First Time Home Buyers

Here is a list of lending resources for First Time Home Buyers who are seeking help with down payment and closing costs assistance. Be sure to read the details and consult with an experienced lender for eligibility requirements.  We listed our preferred lenders who service these types of programs below.  

North Carolina Housing Finance Agency (NCHFA):  

  • Down payment and closing cost assistance up to $8,000.
  • $14,900 down payment and closing cost assistance for foreclosed homes.
  • Mortgage Credit Certificate – This federal tax credit can lower your income-tax liability, dollar-for-dollar, leaving you more money to use toward your mortgage.
  • A competitive interest rate mortgage

Good Neighbor Next Door Program from the U.S. Dept. of Housing and Urban Development:  

  • Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

USDA Loans – Rural Development: 

  • These are loans directly funded by the government for low and very low-income households.  Buyers may obtain 100% of the financing needed for purchasing a home in a rural area.  To find out if a home qualifies for USDA funding, check the address through the USDA eligibility system.

100% Financing: 

  • Check with local retail banks and credit unions too see if they offer any in-house or specialty products for First Time Home Buyers. 

Preferred Lenders who can help with the above programs:

Debbie Sheets (NCHFA and USDA qualified)
SunTrust Mortgage, Inc.
Cell: 919-538-3101
Fax: 866-458-4942
Debbie.Sheets@suntrust.com
Apply online at: www.suntrustmortgage.com/dsheets

 

Marcus Bowman (Low Credit Financing Specialist)
Home Mortgage Consultant
Wells Fargo Home Mortgage
Office: 919.816.4815
Cell: 919.201.0460
Fax: 866.714.0845
Marcus.bowman@wellsfargo.com
Apply online at: www.marcusbowman.com
 

 

Carol Varsano (NCHFA and USDA qualified)
Home Mortgage Consultant
Wells Fargo Home Mortgage
Office: (919) 816-4824
Cell: (919) 454-4653
Fax: (866) 553-3372
Carol.Varsano@wellsfargo.com
Apply online at:
www.wfhm.com/wfhm/carol-varsano

 
Jennifer Dodson (100% financing CHIP program)
Mortgage Loan Officer
BB&T Mortgage
Fax: (919)319-4859
Office: (919)319-4862

 

Mark Wooten (NCHFA and USDA qualified)
SunTrust Certified Mortgage Planner
Office: 919-380-6766
Fax: 919-380-6465
Cell: 919-219-4321
Apply online:
www.suntrustmortgage.com/mwooten