The NC Home Advantage Program is being officially launched February 1. For buyers who have at least a 640 credit score, but are lacking the minimum 3.5% down-payment that FHA requires, this is the loan to consider. This is NOT limited to first-time home buyers! Move up buyers are eligible. $85,000 is the statewide income limit based on the loan application income – not household income as in the past. This allows more families to purchase homes – especially if they are selling theirs and they don’t quite have the equity build-up to repurchase what they need. Gone is the old $1000 minimum buyer investment requirement to get this 3% down-payment assistance (DPA). This 3% DPA is forgivable over 15 years! While not for everyone, this is a much needed loan product and is available through many approved lenders. I like this program because it serves areas in city limits that the USDA loan program cannot. For more information about this loan contact me at Beth@BlevinsHomesandLand.com or one of the approved lenders such as Troy Matzke at PrimeLending to get the full story.