1. Housing Works October 26, 2017 Happen - Affordably! Let’s Make Home
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2. Guest Speakers Realtor Partner Chris Beaver Pinnacle Bank Teresa Pitt
Lender Partner
Realtor Partner
Chris Beaver
Pinnacle Bank
Teresa Pitt
Howard Perry & Walston

3. Our Mission
To create affordable housing opportunities for North Carolinians whose needs are not met by the market.
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4. More than 85,000 home buyers
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5. N.C. Home Advantage Mortgage™
Helps first-time and MOVE-UP buyers
Competitive interest rates
Downpayment assistance available
Available on GOVT (FHA, VA and USDA loans)
97% CONVENTIONAL LOANS!
Can be combined with Mortgage Credit Certificates (for first-time buyers)
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6. Down Payment Assistance
3% or 5% of loan amount GOVT, 3% CONV
Deferred, 0% interest for 15 years
AND EVEN BETTER!!!---
Completely forgiven at year 15
Reduced by 20% per year in years 11-15
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7. N.C. Home Advantage Mortgage™ can help you reach more buyers
No sales price limits
$87, income limit
statewide
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8. Eligible Buyers Principal residence in NC Annual 1003 income $87,500
or less
43% DTI
Minimum credit scores GOVT CONV
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9. Eligible Properties
GOVT LOANS:
New/previously owned single-family homes (stick built or modular)
Townhouses, condos and duplexes
New manufactured homes with 660 credit score
CONV LOANS:
Townhouses
NO manufactured homes or duplexes
Condos ONLY with FNMA approval
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10. CPLP Community Partner’s Loan Pool Up to 20% Down Payment Assistance
New/previously owned single-family homes (less than 10 yrs old)
Household Income Limits apply
Must be referred through a Community Partner
“0”% interest , deferred 2nd mortgage, not forgiven
Can be combined with the MCC
NOT just for First Time Homebuyers
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11. WOW!!
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12. Mortgage Credit Certificates
UNBELIEVABLE help for first-time buyers
Allows homeowner to claim 30% of mortgage interest – up to $2,000 – per year as CREDIT on federal taxes (up to 50% for new homes!)
Can still claim remaining 70% (or 50%) as deduction
Up to $166 a month – helps qualifying
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13. Income Limits
Vary by County and the number of persons in the household.
Refer to Quick Reference tabs for charts of income limits

15. Go to www.nchfa.com Learn more…
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