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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 percent, deferred second mortgage, which is forgiven 20 percent 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 percent 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