North Carolina Homebuyer Limits Update!

Starting July 3rd, new income and sales price limits have taken effect for the North Carolina 1st Home Advantage (the $15,000 DPA), Mortgage Credit Certificate, and North Carolina Home Advantage (no DPA and 3% DPA) programs.

These changes have been put into place in an effort to continue improving affordability in homebuying.

The recent updates include:

• Home Advantage: The new program income limit is $134,000 (no DPA and 3% DPA).

• NC 1st Home Advantage + Mortgage Credit Certificate: The income limits for these programs will now vary from $87,000 (2+ occupants) to $134,000 (3+ occupants). These programs will vary by county and number of occupants in the home. There are 100 counties in North Carolina. Go to http://www.nchfa.com and click “Income Limits” to see them.

• The new sales price limit is $480,000.

These increases present an excellent opportunity to reach out to your local loan officer to discuss if you qualify and one of these changes may be a fit for you!

*These new limits apply ONLY to NEW locks/reservations made on or after July 3rd.*              
*For qualifying borrowers through NC Housing Finance Agency. This is not a commitment to lend. Not all applicants will qualify for financing. For more info, visit https://www.nchfa.com/home-buyers.*