DPASEARCH.COM LENDER HOTLINE: 888-581-5008 Assistance Programs for First Time Home Buyers in Cleveland County, North Carolina If you live in North Carolina and are interested in buying a home in Cleveland County - there may be down payment assistance programs available to you. Saving enough money for a down payment is one of the single biggest obstacles to homeownership – but it is entirely possible that down payment assistance is available to you and you aren’t even aware of it. What is Down Payment Assistance? It is any kind of program that is designed to help people get into a home. That may be a very broad definition, but down payment assistance programs are not always programs that hand out free money by giving you cash in a suitcase – they can take many different forms. Some examples of the different types of down payment assistance programs that may be available include: Grants, Silent Seconds, Delayed Repayment Loans, Interest Free Loans, and Lender Specific Programs. Since there are so many different types of programs that may be available – it is advised that you find the right loan officer who is knowledgeable in programs in your area. Down Payment Assistance Programs Available in Cleveland County, North Carolina North Carolina Housing Finance Agency- Downpayment Assistance Program: $8000 DP Assistance- Must be with their First Home mortgage. Buyer pays $1000 out of pocket and the loan pays up to $8000 of the balance. Buyer must meet the sales guidelines as the First Home Mortgage. The Banks Foundation - Down Payment Assistance: The Banks Foundation is a tax-exempt organization that assists families who are moving from welfare to work and from public housing to private homeownership. Over the years, the Foundation has provided down payment assistance to families who have qualified to purchase their first home. Mortgage Programs Available in Cleveland County, North Carolina North Carolina Housing Finance Agency- Mortgage Credit Certificate Program: If you are a first-time buyer and meet certain income and sales price limits, you may be eligible for a Mortgage Credit Certificate (MCC) worth up to $2,000 a year in tax savings. This federal tax credit can lower your income-tax liability, dollar-for-dollar, leaving you more money to use toward your mortgage. If you qualify, you will be able to claim 30% of the interest you pay on your mortgage if you purchase an existing home or 50% of the interest for a new home (never occupied) – up to $2,000 for every year you live in your home – as a tax credit on your federal income taxes. North Carolina Housing Finance Agency REO Properties for Sale: Our mission is to provide housing for North Carolinians not served by the market. While achieving success with this goal, on rare occasion properties we've financed fall into foreclosure. As a result, we have investor-owned properties for sale.

1. Down Payment Assistance Programs
Cleveland County, NC
DPASEARCH.COM
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

2. Assistance Programs for First Time Home
Buyers in Cleveland County, North Carolina
If you live in North Carolina and are interested in
buying a home in Cleveland County - there may be
down payment assistance programs available to you.
Saving enough money for a down payment is one of
the single biggest obstacles to homeownership – but
it is entirely possible that down payment assistance is
available to you and you aren’t even aware of it.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

3. What is Down Payment Assistance?
It is any kind of program that is designed to help people
get into a home. That may be a very broad definition, but
down payment assistance programs are not always
programs that hand out free money by giving you cash in
a suitcase – they can take many different forms. Some
examples of the different types of down payment
assistance programs that may be available include:
Grants, Silent Seconds, Delayed Repayment Loans,
Interest Free Loans, and Lender Specific Programs. Since
there are so many different types of programs that may
be available – it is advised that you find the right loan
officer who is knowledgeable in programs in your area.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

4. Down Payment Assistance Programs Available in
Cleveland County, North Carolina
North Carolina Housing Finance Agency-
Downpayment Assistance Program: $8000 DP
Assistance- Must be with their First Home
mortgage. Buyer pays $1000 out of pocket and
the loan pays up to $8000 of the balance. Buyer
must meet the sales guidelines as the First Home
Mortgage.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

5. The Banks Foundation - Down Payment
Assistance: The Banks Foundation is a tax-
exempt organization that assists families who
are moving from welfare to work and from
public housing to private homeownership. Over
the years, the Foundation has provided down
payment assistance to families who have
qualified to purchase their first home.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

6. Mortgage Programs Available in
Cleveland County, North Carolina
North Carolina Housing Finance Agency REO
Properties for Sale: Our mission is to provide
housing for North Carolinians not served by the
market. While achieving success with this goal, on
rare occasion properties we've financed fall into
foreclosure. As a result, we have investor-owned
properties for sale.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

7. North Carolina Housing Finance Agency- Mortgage
Credit Certificate Program: If you are a first-time buyer
and meet certain income and sales price limits, you may
be eligible for a Mortgage Credit Certificate (MCC) worth
up to $2,000 a year in tax savings. This federal tax credit
can lower your income-tax liability, dollar-for-dollar,
leaving you more money to use toward your mortgage. If
you qualify, you will be able to claim 30% of the interest
you pay on your mortgage if you purchase an existing
home or 50% of the interest for a new home (never
occupied) – up to $2,000 for every year you live in your
home – as a tax credit on your federal income taxes.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

8. NCHFA - North Carolina Home Advantage
Mortgage: Partnering with participating lenders, we
offer 30-year, fixed-rate FHA, VA, USDA and
conventional mortgages at competitive interest
rates. These loans are funded using taxable
financing through the sale of government-insured
or Fannie Mae-insured mortgage-backed securities
(referred to as MBS). The required down payment
for an FHA loan is usually 3.5% of the sales price.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

9. Additional Home Buying Resources
HUD offers some resources to those people who are
interested in learning more about the process of
buying a home, and the information on HUD’s
website is free. Just a few of the services that HUD
offers information about include: housing counseling
agencies, predatory lending, education, assistance
programs, HUD homes for sale, homeownership
vouchers, home repairs, avoiding foreclosure, making
your home more energy efficient, and more.
DPASEARCH.COM
LENDER HOTLINE: 888-581-5008

10. Other Relevant Cleveland County Sites
North Carolina Association of Realtors
Cleveland County Schools
Cleveland County Sheriff
HUD Homeownership Assistance for North Carolina
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11. T O L E A R N M O R E
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C L IC K HE R E
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12. Justin McHood is Americas Mortgage
Commentator and has been providing
Mortgage commentary for over 10 years.
INFORMATION PROVIDED BY:
JUSTIN MCHOOD
MORTGAGE COMMENTATOR
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