Updated · Mike Certo, NMLS #260555
North Carolina Mortgage Programs
Cornerstone First Mortgage originates North Carolina mortgages through Mike Certo and his team of seasoned North Carolina-licensed loan officers. Below is the full menu of programs we run for North Carolina buyers — each one explained briefly with the key facts. For program-specific eligibility, income limits, FICO requirements, or to talk through your scenario, request more information below or call (480) 296-6513.
North Carolina Down Payment Assistance
Cornerstone is approved for both North Carolina state-level DPA programs and the major national DPA options. We run the full menu — North Carolina Housing Finance Agency (NCHFA) statewide programs plus national programs that work in North Carolina (Chenoa Fund, Arrive Home, Essex/NHF).
North Carolina state DPA programs
- NC Home Advantage Mortgage: Statewide 30-year fixed first mortgage for first-time and repeat buyers with down-payment help up to 3% of the loan amount as a 0% deferred second. Income limit $158,000 statewide (as of July 2026); 640 minimum FICO (660 for manufactured homes).
- NC 1st Home Advantage Down Payment: $15,000 for first-time buyers and military Veterans, paired with an NC Home Advantage first mortgage. 0% deferred second — no payments, forgiven 20% per year in years 11–15.
- Community Partners Loan Pool (CPLP): Up to 25% of the sales price, capped at $50,000, for households at or below 80% of area median income, delivered through NCHFA-approved nonprofits — and it can stack on top of NC 1st Home Advantage.
- NC Home Advantage Tax Credit (MCC): No longer available — NCHFA terminated the Mortgage Credit Certificate program in 2025 when funds ran out. Buyers holding an existing MCC keep claiming it; no new certificates are issued.
National DPA programs (also available for North Carolina buyers)
- Chenoa Fund — FHA-paired DPA with both repayable and forgivable structures depending on income/credit profile.
- Arrive Home — national DPA for low-to-moderate income buyers, includes ITIN borrower path.
- Essex Mortgage / NHF — multi-tier DPA pairing for FHA, VA, USDA, and conventional buyers.
Generally one DPA program per transaction — the exception is NCHFA's Community Partners Loan Pool, which can layer on top of NC 1st Home Advantage. Specific eligibility (income limits, purchase-price caps, FICO thresholds, occupancy, FTHB status) varies — request more information for your specific scenario.
Buy Before You Sell (BBYS)
Bridge financing for the move-up North Carolina buyer who needs to buy their next home before their current home sells. Removes the contingency from the offer — listing agents call this the deal-saver. Cornerstone's BBYS program lets the buyer write a clean offer; we underwrite the bridge based on equity in the existing home plus the new purchase.
- Common scenario: Contract Contingent on Buyer Sale (CCBS) deals where the seller doesn't want a contingent offer; BBYS removes the contingency.
- Process: We underwrite the bridge alongside the new purchase mortgage; close concurrently or near-concurrently.
- Audience: Consumer move-up buyers AND industry listing agents who want their CCBS deal to actually close.
Self-Employed Loans
Tax returns underrepresent self-employed income because of legal deductions. Standard mortgage underwriting punishes that. We run the alternative paths for North Carolina self-employed buyers: bank-statement loans (12 or 24 months), 1099 loans, and asset-qualifier loans (qualify on liquid assets without showing income).
- Bank statement loans: Qualify on 12 or 24 months of business bank deposits with expense-factor adjustments — not deposit gross.
- 1099 loans: For contractors, gig workers, real estate agents, and other 1099-only earners — qualify on documented 1099 income.
- Asset-qualifier loans: Qualify on liquid assets (cash, brokerage, retirement) divided over an asset-utilization period.
Jumbo & Medical Professionals
Loan amounts above conforming limits — full doc, alt doc, super jumbo (above $2M), plus the standout Medical Professionals program. Up to 100% LTV with NO PMI for physicians, dentists, and a specific list of credentialed medical roles. North Carolina has substantial jumbo markets in Charlotte and the Research Triangle (Raleigh-Durham-Chapel Hill), and Medical Professionals is a frequent North Carolina path for doctors at Duke Health, UNC Health, Atrium Health, Novant Health, and Cone Health.
- Medical Professionals eligible: MD, DO, DDS, DMD, DPM, DVM, PharmD, Ophthalmology MD/DO, Psychiatry MD/DO, CRNA with DNAP/DNP.
- Up to 100% LTV at $1.5M with FICO 680; 100% at $2M with FICO 720; 95% at $2M with FICO 680.
- Student loan exclusion: Deferred and IBR student loans excluded from DTI for residents and fellows on resident/fellow income.
Investor & DSCR Loans
For real estate investors buying North Carolina rental property. DSCR loans qualify on the rental income of the property — not your personal income. We finance below a 1.0 DSCR ratio — sub-1.0 programs are part of our investor menu. Short-term rental specific products available for North Carolina Airbnb / VRBO markets.
- DSCR loans: Qualify on the rental income vs the property's debt service — not personal income.
- Below 1.0 DSCR: We finance sub-1.0 scenarios — request more information for your specific deal.
- Short-term rental specific: Airbnb / VRBO-targeted DSCR products with experienced underwriting for STR income.
First-Time Home Buyer Loans
FHA, USDA, conventional with low down payment, and North Carolina DPA-paired structures. Designed for the North Carolina buyer with real-life income and credit — not a perfect-paper applicant.
- FHA: 3.5% down, 580+ FICO published (620+ practical overlay).
- USDA: Zero down in USDA-eligible areas across North Carolina.
- Conventional 97: 3% down, 620+ FICO.
Not sure which program fits?
Call (480) 296-6513 for a free consult, or send your scenario through the form below. Mike and his team review every North Carolina scenario and respond within one business day — no commitment, no salesy follow-up, just an honest read on what’s possible.
Frequently asked questions
What is the conforming loan limit in North Carolina for 2026?
The 2026 conforming limit is $832,750 in every North Carolina county — NC has no high-cost counties. Above that amount, the loan is a jumbo, which we also offer.
What down payment assistance is available in North Carolina?
NCHFA's NC Home Advantage adds up to 3% of the loan amount in down-payment assistance (income limit $158,000), and NC 1st Home Advantage offers $15,000 to first-time buyers and military Veterans as a 0% deferred second forgiven 20% per year in years 11–15. The NC Home Advantage Tax Credit (MCC) is no longer available — NCHFA terminated it in 2025.
Do you offer VA loans in North Carolina?
Yes. Eligible Veterans and active-duty service members can buy in North Carolina with $0 down and no monthly mortgage insurance. North Carolina has a large military community across Fort Bragg, Camp Lejeune, and several other installations.
What credit score do I need for a mortgage in North Carolina?
It depends on the program. NCHFA programs require 640 (660 for manufactured homes), FHA is published at 580 with common lender overlays around 620, VA has no set minimum (lenders ~580-620+), and conventional usually wants higher. Mike can match you to the program that fits your credit.