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NC 1st Home Advantage Down Payment

The NC 1st Home Advantage Down Payment provides eligible first-time home buyers and military veterans with $8,000 in down payment assistance. Similar to the other down payment assistance options available with the NC Home Advantage Mortgage™, this down payment help is a 0%, deferred second mortgage, which is forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15. These loans are funded through the sale of tax-exempt mortgage revenue bonds.

Using this down payment assistance, your customers may be eligible for up to 100% financing on FHA, USDA, VA and conventional loans. Our mortgage products are offered through participating lenders statewide.

Buyer Eligibility

  • Be a first-time buyer buyers (not have owned a home as their principal residence in the past three years) or a military veteran or be buying homes in targeted census tracts.
  • Meet income and sales price limits.
  • Purchase a home in North Carolina.
  • Be using an NC Home Advantage Mortgage™.
  • Have a credit score of 640 or higher.
  • Occupy the home as their principal residence within 60 days of closing.
  • Be a legal resident of the United States.

What Properties are Eligible?

  • Single-family homes.
  • Townhouses.
  • Condominiums.
  • New manufactured homes (660 credit score required).

Comience Ahora

1

We offer free, downloadable brochures to provide your buyers with more information on the NC Home Advantage Mortgage™ and available down payment assistance, including the NC 1st Home Advantage Down Payment.

Download NC 1st Home Advantage Down Payment Brochure

2

The NC 1st Home Advantage Down Payment is offered through participating lenders throughout North Carolina. Get your buyers connected with a lender in your area.

Find a Lender