The first time homebuyer requirement for an MCC Tax Credit through the NC Housing Finance Agency does not have to be met if the borrower’s residence is located in a “designated Targeted Area” as listed below.
A targeted area is any area designated by the federal government to receive special consideration based on economic conditions and the housing stock. A Targeted Area is defined as a census tract in which 70% or more of the households have an income which is 80% or less of the area median family income. Such areas are not subject to the prior home ownership restriction. Federal regulations require NC Housing Finance Agency to set aside a portion of the bond funds for Targeted Areas for one year.
Targeted areas eligible for the first time home buyer exemption with an MCC Tax Credit are as follows:
FFIEC Geocoding System. This list is subject to change. Click on the county to view eligible areas
Click here to see the Household Income limits for the MCC Tax Credit
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| Alamance | 0208.01, 0210.00 |
| Beaufort | 9303.00 |
| Buncombe | 0002.00, 0009.00 |
| Cabarrus | 0407.03, 0419.01, 0421.01 |
| Caldwell | 0302.00 |
| Catawba | 0104.02, 0107.00, 0110.00 |
| Cleveland | 9509.00 |
| Craven | 9608.00 |
| Cumberland | 0002.00, 0005.00, 0010.00, 0012.00, 0024.01, 0034.03, 0034.08, 0038.00 |
| Davidson | 0608.00, 0614.00 |
| Duplin | 0908.01 |
| Durham | 0005.00, 0009.00, 0011.00, 0013.01, 0014.00, 0015.01, 0015.02, 0017.09, 0022.00, 0023.00 |
| Edgecombe | 0202.00, 0204.00 |
| Forsyth | 0003.01, 0004.00, 0005.00, 0006.00, 0007.00, 0008.01, 0008.02, 0009.00, 0016.02, 0019.01, 0034.03, 0034.04, 0037.01 |
| Gaston | 0319.00, 0320.00, 0321.00, 0331.00 |
| Graham | 9201.00, 9203.00 |
| Guilford | 0101.00, 0103.00, 0110.00, 0111.01, 0112.00, 0114.00, 0115.00, 0116.02, 0119.04, 0126.08, 0126.11, 0127.07, 0136.01, 0138.00, 0139.00, 0140.00, 0142.00, 0143.00, 0145.01 |
| Iredell | 0602.00, 0604.00 |
| Lee | 0303.00 |
| Lenoir | 0102.00, 0103.00, 0104.00, 0105.00, 0107.00 |
| Mecklenburg | 0008.00, 0009.00, 0019.10, 0019.18, 0023.00, 0031.09, 0037.00, 0038.08, 0039.02, 0039.03, 0041.00, 0042.00, 0043.02, 0045.00, 0047.00, 0051.00, 0052.00, 0053.01, 0053.07, 0053.08, 0058.24, 0058.29 |
| New Hanover | 0101.00, 0105.02, 0110.00, 0111.00, 0114.00 |
| Onslow | 0008.00, 0009.00, 0026.00 |
| Orange | 0113.00, 0116.01, 0116.02 |
| Pasquotank | 9603.00 |
| Pender | 9202.04 |
| Pitt | 0002.01, 0006.02, 0007.01, 0007.02 |
| Randolph | 0303.01 |
| Richmond | 9706.00 |
| Robeson | 9603.00, 9605.01, 9608.01, 9608.02, 9611.00, 9618.02, 9620.01, 9620.02 |
| Rockingham | 0414.00 |
| Rowan | 0504.00 |
| Scotland | 0102.00, 0103.00 |
| Union | 0204.04 |
| Vance | 9606.00, 9607.00, 9608.00 |
| Wake | 0507.00, 0508.00, 0509.00, 0511.01, 0520.01, 0524.08 |
| Wayne | 0007.00, 0015.00, 0018.00, 0020.00 |
| Wilson | 0001.00, 0002.00, 0003.00, 0007.00, 0008.01 |