Purchases

Finance your next Home with Advantage

Pre-Qualification

Interested in purchasing a home? Please contact us to get started. We have our own internal underwriting that allows us to qualify and underwrite a well documented loan in 48 hours. This level of service is unprecedented in the current market and will reduce some of the burden placed on you.

Through Advantage Lending, buyers can be approved to purchase a home prior to beginning the home search process. Therefore, you can move forward with your home-buying plans knowing that you have been financially qualified and are in good standing. For a lot of realtors a pre-qualification letter is a requirement, not an option.

If you are interested in getting pre-qualified fill out this short survey and you will be contacted by a mortgage professional.

First Time Homebuyer Programs

First-time home buyers who meet certain qualifying income requirements, sales price and first-time home buyer guidelines may be eligible for a Mortgage Credit Certificate (MCC). New homes (never occupied) are eligible for a 50% tax credit. Existing homes (previously occupied) are eligible for a 30% tax credit.

The MCC is a tax credit that can reduce the federal income tax liability owed by the homeowner up to $2,000 per year for each and every year they occupy the home as their primary residence.

An MCC must be used with a 30-year fixed rate mortgage, including those from FHA, USDA, VA and conventional loan types. An adjustable rate mortgage may be acceptable in some instances.

North Carolina Housing Finance Agency (NCHFA) administers the program. The following information has been gathered from their website for your convenience.

Mortgage Credit Certificate (MCC)

Income Limits

Income limitations are determined by both the county of the property as well as the number of people who whill be occupying the property. Use the simple form below to see the limits in your area.

Recapture