CHARLOTTE, N.C. — Between interest and inflation, the price of homes has pushed many hopeful homebuyers out of the market. And it's why money.com is breaking down which states across the country offer homebuying help.
The good news: both Carolinas make the list.
The Federal Housing Administration shows North and South Carolina have a mix of state and local aid available. Housing experts say the vast majority of help available is for veterans and first time home buyers.
But there is a twist, some programs consider anyone who hasn't owned a home in the last three years as first-time homebuyers as well.
The money can come in a variety of different ways.
There are grants available, or low interest loans, usually dependent on credit score and income requirements. Right now, you can look into North Carolina's first home advantage down payment.
It's $15,000 in assistance for a down payment and here are the stipulations:
You must be a first-time home buyer, have not owned a home in the past three years, or be a military veteran.
You also have to meet certain income limits. More details can be found in the program itself but at first look, you can be making somewhere between $100,000 to $134,000/year and still qualify for help.
In South Carolina, those income limits are between about $80,000 to $100,000.
Other requirements include a minimum credit score of 640 or higher and being a legal resident of the united states.
There is a lot of information but you'll want to go to this website for more or follow this link for South Carolinians.
WCNC Charlotte's Where's The Money series is all about leveling the playing in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.
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