Current Interest Rates: As of May 17, 2012 12:20 AM

The FirstHome Mortgage and Mortgage Credit Certificate (MCC) programs are available to first-time home buyers or individuals who have not owned a principal residence in the last three years. Veterans who have served in active duty within the last 25 years may be exempt from the three-year first-time home buyer requirement under a one-time exception. See our website or contact the N.C. Housing Finance Agency for more details.

In addition, persons who buy homes in certain targeted census tracts are eligible for these loans, even if they are not first-time home buyers.                                                                                                  

Eligible borrowers apply for the FirstHome Mortgage and MCC programs through our Participating Lenders and must meet the requirements of the individual loan type - FHA, VA, USDA, or Conventional - in addition to N.C. Housing Finance Agency guidelines.  Conventional loans are limited to an 80% loan-to-value ("LTV") ratio when using the FirstHome Mortgage program.

To learn more about our FirstHome Mortgage and downpayment assistance programs, visit our Home Buyer section.

Notice: Rates are subject to change without notification

Without downpayment assistance (DAP) from NCHFA

3.50%

3.7235%

60

3.50%

3.8165%

60

4.00%

4.4248%

90

3.50%

3.7914%

60

3.50%

3.7316%

60

With $14,900 downpayment assistance (DAP) from NCHFA

4.25%

4.4719%

90

4.25%

4.4194%

90

With $8,000 downpayment assistance (DAP) from NCHFA

4.00%

4.3682%

60

4.00%

4.4823%

90

4.00%

4.2638%

60

For Targeted Areas ONLY

3.25 % Note Rate
APRs vary from 3.448 % to 4.489 % depending on loan type

Note: The Agency is able to offer 3.25 % 30 year fixed rates for all loan types shown above (not requiring NCHFA downpayment assistance), for properties located in targeted areas. The first-time homebuyer requirement does not have to be met if the borrower's residence is located in a designated targeted area .