Borden Lofts condominium project will be submitted to lending agencies for financing preapproval. This will allow owner occupants to receive a high loan to value loan, in some cases as much as 100% financing. Investors and Second home owners should be able to qualify for 75% to 90% financing from lenders.

In additional to favorable financing, owner occupants should qualify for 40% of eligible renovation costs using the Historic Mill Tax Credit from the State of North Carolina. Investors will also receive the 40% Historic Mill Tax Credit and an additional 20% federal tax credit. There are specific rules that apply to both federal and state credits so perspective owners should seek the advice of their tax professional.

For purchasers who will reside in Borden Lofts, the City of Goldsboro has a downpayment assistance program for City employees, Seymour Johnson Air Force Base personel and Teachers in which the City matches your downpayment.

The Home Ownership Program provides funds to homebuyers purchasing a home in a defined area of downtown which includes Borden Lofts. The loan is forgiven after five years of residency in the home purchased. The City of Goldsboro will match a home buyers down payment costs up to $5,000 towards a loan/mortgage amount of $150,000 or less. For more details click this link.