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Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
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Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Programs
Navigate all our programs and find the perfect loan for you.
Buy
Apply Now
Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Programs
Navigate all our programs and find the perfect loan for you.
Customers
About
North Carolina
If you are a first-time home buyer in NC and need clarification on home loans or mortgage rates, Total Mortgage has the absolute solution for you. We have some of the brilliant minds in the real estate market who can find the best down payment assistance in NC for you. So, you don't have to check the NC requirements for first-time home buyers anymore—we will do that for you. We will also ensure you get the best current mortgage rates in New Carolina. Here at Total Mortgage, we believe in fulfilling dreams. And your dreams are our dreams now. So, let's plan and find the best property in North Carolina for you.
North Carolina Assistance Programs
North Carolina first-time homebuyer loan programs
NCHFA NC Home Advantage Mortgage
The NCHFA's NC Home Advantage Mortgage rewards initial homebuyers and those presently engaged in property ownership. The NC programs for first-time home buyers define a first-time homebuyer as somebody who has yet to own a residence within the previous three years. This project presents a fixed-rate home loan, furnishing adaptability with choices including conventional, FHA, VA, or USDA loans.
To qualify for this first-time home buyer North Carolina program, particular standards must be fulfilled:
- Your maximum yearly profit is $134,000. Your credit score is at least 640.
- Your liability-to-income (DTI) percentage does not pass 43 percent.
- You plan to buy a solo-family house, townhouse, flat, semi-detached house (for FHA loans only), or a new manufactured house (for FHA, VA, or USDA loans only, requiring the lowest credit score 660).
North Carolina Assistance Programs
Other first-time homebuyer loan programs
An NC first-time home buyer and a veteran can utilize North Carolina's Home Advantage Mortgage program alongside the state's mortgage credit certificate initiative, known as the NC Home Advantage Tax Credit. The latter permits homeowners to claim a federal tax credit equaling 30% of annual mortgage interest for existing home purchases or 50% for new construction acquisitions, with the credit capped at $2,000 per year yet renewable for as long the property remains the primary residence. However, those combining these incentives must ensure the subject property complies with specific eligibility parameters only applicable under such a joint arrangement.
Considerable advantages exist for utilizing these NC down payment assistance programs in unison, though certain housing types may not qualify for the pairing depending on their characteristics.
FHA Loans
Federal Housing Administration loans provide a feasible path for those with moderate credit or limited savings, requiring merely a 3.5 percent down payment and accepting credit scores as low as 580.
VA Loans
Veterans Affairs home loans are an exceptional opportunity for those who have served, allowing the purchase of a primary residence without a down payment in recognition of their sacrifice.
USDA Loans
United States Department of Agriculture loans focus on increasing housing availability in rural regions, exempting the down payment requirement but typically demanding strong credit for those seeking the benefit within eligible areas.
Good Neighbor Next Door program
An affordable portion covering half the median property valuation paired with the HUD Good Neighbor, Next Door initiative is a mutually beneficial union. Singularly, it permits public servants, educators, and emergency responders to live amidst the locales wherein they dedicate their workdays.
Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.
*Terms and Conditions Apply. For complete details click here.
