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North
Carolina First Time Home Buyer
 The
economic crisis has taken its toll on North Carolina with a higher unemployment
rate in banking and manufacturing and a spike in business failures during the
last year. Foreclosures seem to be stabilizing but home prices will drop between
12% and 14% in 2009. A North Carolina first time home buyer could pick up a home
for a bargain basement price and Uncle Sam will give you $8,000 for realizing
the American Dream of Homeownership. Hurry up and buy before they change their
mind!
Special
Programs
The My Community North Carolina First Time Home Buyer Program Opens Doors for a
Fireman, Police Officer, Paramedic, Teacher, Healthcare Worker such as Nurse,
and Military Personnel.
This program features 3% down financing and you receive a $500 credit toward closing costs. Also, you can have use part-time or overtime income from last 12 months to qualify.
North Carolina First Time HomeBuyer FHA Program
Please visit
FHA mortgage limits
if your Metro Area doesn't appear below.
| Metro Area |
Single Family |
2-Unit |
3-Unit |
4-Unit |
| Fayetteville |
$271,050 |
$347,000 |
$419,425 |
$521,250 |
| Charlotte |
$303,750 |
$388,850 |
$470,000 |
$584,150 |
| Raleigh |
$295,000 |
$377,650 |
$456,500 |
$567,300 |
| Durham |
$334,650 |
$428,400 |
$517,850 |
$643,550 |
VA Program
Zero down payment up to $417,000 loan amount
If you served during wartime for at least 90
 consecutive days or
during peacetime for at least 181 consecutive days then you are
eligible for the VA Home Loan Program. If you are currently on
active duty then you are eligible for the program after 90 days of
active service. You are also eligible if you are on Reserve, as long
as you have served for at least six years, which can be
non-consecutive and in different branches of the Reserves. The
Reserve branches eligible for the VA Home Loan Program are Army
National Guard, Army Reserve, Air National Guard, Coast Guard
Reserve, Navy Reserve, Marine Corps.
North Carolina USDA Rural Program
Zero down payment with NO PMI or mortgage insurance. You must purchase home in
eligible county and there are maximum income limits. The income limit for
most counties is $73,600. Raleigh, NC has $88,400 limit.
List of INELIGIBLE COUNTIES: Alamance, Buncombe, Burke, Cabarrus,
Catawba, Craven, Cumberland, Durham, Edgecombe, Forsyth, Gaston, Guilford,
Iredell, Lenoir, Mecklenburg, Nash, New Hanover, Onslow, Orange, Pitt, Randolph,
Rowan, Union, Wake, Wayne, and Wilson.
Visit
USDA website to determine if a specific home is eligible for the program.
You will need full address with zip code.
Kansas First Time Home Buyer Stats
| Best Places to Live |
Clayton, Rancho Santa
Margarita, Walnut |
| Most Affordable Place to Live |
Fayetteville, $130,875 |
| Average Home Listing Price |
$315,819 |
| Unemployment Rate |
10.4% |
| Fasted Growing Job Market |
Healthcare |
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