NC law for first time homebuyer tax credit? Closing costs? (lease, mortgage broker)

[NM posts]

Hi,

A mortgage broker told me that though HUD allows you to use the first time homebuyer tax credit toward closing costs, that states had to opt in to that, and that NC housing does not allow buyers to do that.

I'm pretty annoyed...but wanted to get a second opinion...is this true? Does anyone here know the NC rules/law regarding this?

Thanks! Trying to buy a cheap house (read - within my means and small) before that tax credit expires...otherwise I'll be locked into a lease for a while and will miss the tax credit!

[faabala]

I have not heard about any state rules. But, I have not find any lender who will allow it.

In my market we have been very successful in getting ALL closing costs paid for our first-time buyers last year and this year. You need an aggressive buyers agent who is looking out for you.

[NM posts]

Originally Posted by faabala

I have not heard about any state rules. But, I have not find any lender who will allow it.

In my market we have been very successful in getting ALL closing costs paid for our first-time buyers last year and this year. You need an aggressive buyers agent who is looking out for you.

Thanks! That's interesting - I figured since I'm looking at lower priced homes, which get off the market pretty quickly, that it might not work out (the sellers will probably have another buyer who will pay them).

I'm trying to talk myself into renting a little longer anyway...ugh...