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Home Purchase Matching Funds –
Up to $5,0001
For every $1 you contribute to your home purchase, you can receive $4 in matching funds, up to $5,000. Funding is available to qualified first-time homebuyers2 who meet income eligibility requirements. In addition, the homebuyer must:
- Contribute at least $1,000 toward the purchase of the home
- Occupy the home as a primary residence for at least five years3
- Complete a homebuyer education and financial literacy course specified by the grant originator
How to Access Funds
Contact Capital Bank’s knowledgeable home loan officers to find out if you qualify for this program and to learn about other products that could ease your home financing. We’re here to help make your road to home ownership a smooth one!
1 Subsidy may be granted to owner-occupied 1-4 family properties, townhouses, condos, foreclosed properties, new construction (completed within 45 days of closing) or the purchase of an existing unit. The home must be held by the owner as a principal place of residence. Granted funds toward an approved mortgage transaction may be allocated towards down-payment, closing-cost for the purchase or purchase/rehabilitation of an existing unit with $4 in matching funds up to $5,000 maximum for every dollar contributed for the first time homebuyers. Other eligibility and income requirements will apply. Subject to credit approval.
2 Funds may only be made available to a “first-time homebuyer” as such term is fined by HUD HOC Reference Guide chapter 3.
3 In the case of a sale of the unit prior to the end of the five-year retention period, an amount equal to a pro rata share of the direct subsidy that finances the purchase, construction, or rehabilitation of the unit, reduced for every year the seller owned the unit shall be repair from any net gain realized upon the sale of the unit.
Capital Bank, N.A. NMLS#401599