First-Time Homebuyers & Down Payment Assistance | Alpha Mortgage
Your Path to Homeownership Starts Here
At Alpha Mortgage, we believe everyone deserves the opportunity to own a home, even if saving for a down payment feels out of reach. Our experienced team of local loan officers specializes in helping first-time homebuyers navigate affordable financing options and down payment assistance programs designed to make homeownership possible sooner than you thought.
Whether you’re ready to buy now or just exploring your options, Alpha Mortgage will guide you every step of the way, with no hard credit pull and free consultations to get you started.
Why First-Time Buyers Choose Alpha Mortgage
- Local Experts, Local Decisions – We process, underwrite, and close loans right here in North Carolina.
- Personalized Guidance – Every buyer’s story is unique. Your loan officer will walk you through every step.
- Technology with a Personal Touch – Apply online, upload securely, and stay updated in real time.
- Soft Credit Check Pre-Approvals – Get pre-qualified without a hard inquiry on your credit report.
Ready to learn more? Schedule your free consultation today with an Alpha Mortgage loan officer!
Down Payment Assistance & Grant Options
Saving for a down payment is one of the biggest challenges for first-time buyers, but with Alpha Mortgage, you don’t have to do it alone. We partner with state and national programs that can provide grants and forgivable assistance to help cover your down payment and closing costs.
NC Housing Finance Agency (NCHFA) Programs
NC Home Advantage Mortgage™
- Offers up to 3% of the loan amount in down payment assistance.
- Assistance is forgiven after 15 years as long as you stay in the home.
- Works with FHA, USDA, VA, and conventional loans.
NC 1st Home Advantage Down Payment
- Offers up to $15,000 down payment and closing cost assistance
- Assistance is forgiven after 15 years as long as you stay in the home
- Works with FHA, USDA, VA, and conventional loans.
Fannie Mae $2,500 Grant
If your income is below 50% of the area median income (AMI), you may qualify for a $2,500 grant from Fannie Mae to help with your down payment or closing costs.
This grant can be combined with low down payment programs like HomeReady®, and it does not need to be repaid.
Alpha Mortgage loan officers can help you determine if your household income qualifies and how to pair this grant with other programs for maximum benefit.
High Loan-to-Value Programs
Even without large savings, many buyers can qualify for programs that offer up to 100% financing or low down payment requirements.
Here’s how each program works:
VA Loan
- 0% down payment for eligible veterans, active-duty military, and surviving spouses.
- No monthly mortgage insurance.
- Flexible credit and income requirements.
USDA Rural Development Loan
- 100% financing available for eligible rural and suburban areas.
- No down payment required.
- Designed for moderate-income buyers purchasing in USDA-approved locations.
FHA Loan
- As low as 3.5% down payment.
- Ideal for buyers with limited credit history or smaller savings.
- Allows for gift funds and down payment assistance.
Fannie Mae HomeReady® & Freddie Mac HomePossible®
- 3% down payment options.
- Reduced mortgage insurance costs.
- Flexibility for co-borrowers and nontraditional income.
- Compatible with the Fannie Mae $2,500 grant for qualifying buyers.
The Alpha Mortgage Advantage
- Get Pre-Qualified (No Hard Inquiry) – We’ll perform a soft credit pull to see your options without affecting your score.
- Explore Assistance Programs – Your loan officer will match you with grants and low-down-payment programs you qualify for.
- Shop with Confidence – You’ll know exactly what price range and loan type work best for your situation.
- Close with Ease – Enjoy a smooth process handled locally from start to finish.
Serving Homebuyers Across North Carolina
Alpha Mortgage proudly serves first-time homebuyers throughout the state of North Carolina.
Whether you’re a local resident, a relocating military family, or a new graduate starting out, we’re here to help you call North Carolina home.
Take the First Step Toward Homeownership
Getting started is easy — and won’t affect your credit score!
✅ Schedule your free consultation
✅ Apply online or contact your local Alpha Mortgage loan officer
✅ Discover which down payment programs you qualify for
Call: (910) 294-8000
Email: yoursearch@coastlinehomesearch.com
Apply Online: coastlinehomesearch.com/appy
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