North State Bank Sales Support Collateral as of June 2025

Mortgage Loan O ffi cer North Raleigh NMLS# 67558 919.582.1650 WJoyner@NorthStateBank.com Worth Joyner

Loan Products for Purchase Transactions Quick Refere n ce Guide

NCHFA Progr ams

Freddie Co n ve n tio na l Guideli n e s

Jum bo Lo ans

VA Lo ans

FHA Lo ans

USDA Lo ans

individuals who have not owned a home in the last 3 years or borrowers below certain income limits (determined by county) 5% for current & previous homeowners 3% for fi rst time homebuyers, 3% of sales price for LTV’s > 90% 6% of sales price for LTV’s 75.01 – 90% 9% of sales price for LTV’s < 75% Investment property 2% maximum Gifts from a relative are allowed toward the 3% down payment requirement Gifts allowed after 5% down payment requirement met on second homes only Gifts are not allowed on investment property

3.5% required

Down payment may be required on loan amounts of $806,501 and above, based on eligibility Up to 4% of value as indicated on the Notice of Value as indicated per the VA appraiser

No down payment required

Follow loan type guidelines; down payment assistance available

15% up to $3,000,000 10% up to $1,500,000

Dow n P aym e n t

Follow loan type guidelines

Up to 6% of the sales price

Closing cost + prepaids

3% of sales price for LTV’s > 80% 6% of sales price for LTV’s < 80% Investment property 2% maximum Gift funds not allowed for LTV’s > 80% Gift funds not allowed for investment property

Seller C on tributio ns

Up to 6% of the sales price

Permitted

Permitted

Permitted

Permitted

Gift Mo n e y

$806,500; VA Jumbo loans are available for higher loan amounts/ Check table for high cost counties

$806,500

$524,225-$1,209,750 for one unit properties, determined by county

$490,000-$806,500 depending on program selected

$3,000,000

$806,500 FNMA/FHLMC

Lo an L im it s

Credit Score s

620

620

620

620

640

Varies with LTV

PMI if LTV is > 80%

Government insured loan funding fee, no MIP

Government insured loan, upfront MIP can be fi nanced, monthly MIP

Government insured loan, guaranty fee with MIP

Reduced PMI, if LTV is > 80% for conventional loans; FHA/VA/USDA follow loan type guidelines

No PMI

Mortg a ge Ins ur an ce

NorthStateBank.com

NMLS# 411971