DPA is down payment assistance from the Agency. So how do we make money? Today's loan purchase rates This chart includes rates for each of the mortgage types we offer. The information materials and opinions contained on this website are for general information purposes only, are not intended to constitute legal or other professional advice and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. A credit score of 720 or above is typically sufficient. 1 APR = Annual Percentage Rate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. To finance these construction projects, North Carolina residents are using construction loans. Buyer must contribute minimum 1% towards closing costs or prepaids. Get pre-approved 4. Allows the use of gift funds and down payment assistance programs. Our opinions are our own. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. 12-month maximum construction loan term. Adjustable-rate loans and rates are subject to change during the loan term. If you are considering a construction project in North Carolina, youll want to talk to an experienced construction lender. North Carolina mortgage rates today are 11 basis points lower than the national average rate of 6.39%. Not every mortgage provider offers construction loans.