What is the definition of a first time home buyer?
A first-time home buyer is an individual or family that has not owned or had an ownership interest in any residence during the last three years as their principal residence.

Show All Answers

1. Who is eligible for NCTHFC programs?
2. What is NCTHFC's Eligible Loan Area?
3. Is there a residency requirement for program participation?
4. What is the definition of a first time home buyer?
5. What is meant by primary, or principal, residence?
6. I've heard that only homes in economically distressed areas qualify under these programs. Is that true?
7. How do I apply for a mortgage loan under the programs?
8. Can I buy a second home using this financing?
9. In the event I sell the home, do I have to pay back any portion of the grant?