• Down Payment Options

              Mortgage - No Down Payment Options

              USDA

• Zero Down Payment (100% Financing)
• No Monthly Mortgage Insurance
• 3.5% Guarantee Fee Financed
• Income Limits
• Property must be located in a USDA designated area
• Competitive Rates
• Seller can pay closing costs

     VA - Veterans (Active Duty and Non-Active Duty) and Reservists

• Zero Down Payment        
• No Income Limits
• Competitive Interest Rates
• No Monthly Mortgage Insurance
• VA Funding Fee Financed

     FHA

• 3.5% Down Payment
• Gift Funds Allowed (from a relative)
• Competitive Interest Rate (similar to conventional interest rates)
• Seller can pay closing costs (up to 6%)
•  Appraisal, processing and closing similar to a conventional loan
•  620 Minimum Credit Score

North Carolina Housing Finance Agency

• 3.5% Down Payment
• Below Market Interest Rates
• 1st Time Homebuyer Program
• Reduced Mortgage Insurance Premium
• Income and Sales Price Limits

Conventional

• 5% - 20% Down Payment from borrower’s own funds
• No Income or Sales Price Limits
• Seller can pay up to 3% in closing costs
• No Geographical Restrictions