Monday, December 01, 2014
INTEREST RATES ARE DROPPING
And There Are More Financing Options for Buyers
Starting this month, the North Carolina Housing Finance Agency is offering 5% down payment assistance on government loans and 3% on conventional loans. What does this mean for you as a buyer? It means that 100% financing will be available on all loan types!
For example, buyers using FHA financing can use the 5% down payment dollars to pay the 3.5% mandatory investment and still have another 1.5% available to use towards closing costs.
The conventional HFA Preferred Option is even better. Buyers using the conventional option already get 97% LTV financing with mortgage insurance at half the normal factors – now you can get 3% down payment help to make it a true 100% loan.
Remember, the N.C. Home Advantage Mortgage can be used if you are a first-time buyer or a move up or move down buyer.
If you want more information about this program, don’t hesitate to give any of our agents a call at 919-928-5131. We will be happy to help.
And here are today’s interest rates —