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Angie McCarter, Mortgage Banker
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800.849.5698(toll free) 803.366.4040(o)
803.366.9939(fax) 704.581.5846(pager) Licensed in NC,VA,SC,GA,FL,LA,AL,TN,& KY
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Coastal Mortgage is proud to be an approved lender for North
Carolina Housing programs. The North Carolina Housing Finance Agency(NCHFA)
is a self-supporting state agency whose primary purpose is to assist 1st-time
homebuyers by providing below-market interest rates(Mortgage Revenue B Bond
loans) and down payment assistance in the form of zer0-interest, deferred second
mortgages. The Agency also administers a Federal Tax Credit program for
1st-time homebuyers called the Mortgage Credit Certificate(MCC) program that
subsidizes mortgage payments by providing tax credits to qualified
borrowers.
The benefits to you as a 1st-time homebuyer are:
 Using
the MRB "Bond" program, you can get an FHA, VA, or Conventional
loan at an interest rate that is BELOW what the market rate
for that loan would be today. |
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the MCC tax credit program, you can get an annual credit off of your
Federal income tax bill equal to 15% or 25% of your mortgage interest paid
during the year. This helps qualify you for a larger mortgage
balance, giving you more buying power to purchase your home. |
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MRB "Bond" program offers down payment assistance to qualified
borrowers through ZERO-interest, deferred second mortgages,
enabling some transactions to be closed with only $750 of the borrowers'
own money. |
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MRB "Bond" program also allows down payment funds from other
qualified non-profit organizations such as Nehemiah. |
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For borrowers with top tier credit scores on Conventional loans, there can
be 100% financing through Coastal and NCHFA! |
To qualify for NCHFA MRB "Bond" loans or NCHFA MCC tax credits:
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must be first-time homebuyers. |
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total gross annual income for all residents living, or intending to live
in the home, age 18 or older(except for full-time students), must be
within the limits established for household income. These limits are
county-specific and are based upon the total size of the borrowers'
family. Call me to inquire about the specific income limits that
would apply to your county. |
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gross annual income is calculated using all sources of income, including
but not limited to wages, overtime, bonuses, child support, alimony,
commissions, earnings from a second job, business, and inventories. |
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Household asset limits apply and are limited to no more than $40,000 per
household with larger limits for ages 62 - 64, 65 and older, and for those
families with a disabled or handicapped person living in the household. |
| Eligible
properties include single-family detached homes, condominiums, townhouses,
modular or double-wide manufactured housing that is permanently attached
to a foundation approved by FHA, but cannot include more than 2 acres of
land and no unfinished square footage. |
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are limitations on the sales prices allowed under NC Housing guidelines
that are county-specific. There are also different allowable sales
prices for new homes versus existing homes. Please call me to
discuss the county-specific limits on sales prices. |
These programs can help get you into the home that you have always dreamed
about. If you are a 1st-time homebuyer, I urge you to call me to discuss
the possibilities that Coastal Mortgage and NC Housing programs have to
offer.
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