NC 1st Home Advantage Down Payment

The NC 1st Home Advantage Down Payment provides eligible first-time home buyers and military veterans with $15,000 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).

Get started

    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

Forms & Resources

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North Carolina Housing Finance Agency / 3508 Bush Street / Raleigh, NC 27609 / 919-877-5700

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All information contained on the following Web pages is obtained from the Agency’s books and records, and is believed to be accurate and reliable. Reference should be made to the official statement and operative documents of each series of bonds referred to herein for complete information on that issue. Because of the possibility of human and mechanical error as well as other factors, this information is provided "as is" without warranty of any kind and no representation or warranty, expressed or implied, is made, nor should any be inferred, as to the accuracy, timeliness, or completeness of this information. Under no circumstances shall North Carolina Housing Finance Agency have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error (on account of neglect or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, transmitting, communicating or delivering this information, or (b) any direct, indirect, special, consequential, or incidental damages whatsoever, even if North Carolina Housing Finance Agency is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information. This information relates to bond issues of the North Carolina Housing Finance Agency that have been sold and distributed in underwritten public offerings described in the related official statements. Each viewer of the aforementioned information acknowledges that (i) the North Carolina Housing Finance Agency is not now by this document offering any bonds or other securities, nor soliciting an offer to buy any securities, (ii) this information is not to be construed as any description of the North Carolina Housing Finance Agency-such offerings are only made pursuant to the appropriate official statements of the North Carolina Housing Finance Agency, (iii) the information provided speaks only as of the date thereof and the North Carolina Housing Finance Agency has not in any way undertaken to update such information, and (iv) no representation is made as to the propriety or legality of any secondary market trading of the bonds or other securities of the North Carolina Housing Finance Agency by anyone in any jurisdiction. The financial condition of the North Carolina Housing Finance Agency may have changed since the date this information was prepared.

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