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The North Carolina Housing Finance Agency offers down payment assistance and competitive rates for first-time and move-up buyers that can widen your market for new home sales. We also provide a 60-day, interest-rate lock period so that you and your buyers don’t need to worry about market fluctuations while the home is being completed.

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  • NC Home Advantage Tax Credit

    The NC Home Advantage Tax Credit allows eligible first-time buyers and military veterans who purchase newly built homes to deduct up to 50 percent of their mortgage interest (up to $2,000) as a federal tax credit each year if they apply and are approved for a Mortgage Credit Certificate prior to their home purchase. 

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  • NC Home Advantage Mortgage™

    Our NC Home Advantage Mortgage™ offers down payment assistance up to 3% of the loan amount! First-time and move-up buyers with incomes up to $126,000 are eligible, and 100% financing is available on certain loan types.

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That depends on the loan type and seller contribution. The NC Home Advantage Mortgage™ offers 3% to 5% down payment help for conventional, FHA, VA and USDA financing.  Our maximum Loan-to-Value conventional loan is 97%, so with DPA of 3% of the loan amount, your borrower would need very little of their own money.  On a sales price of $100,000, they would need about $90, which can come from their own funds, a gift, or another DPA source. In addition, the seller is allowed to contribute the maximum the loan program will allow. In the case of a 97% conventional, that amount is 3% of the sales price to put toward closing expenses.  There is no minimum contribution required by the borrower when using the NC Home Advantage Mortgage™.

Yes. Military veterans have a one-time exemption from the requirement, and borrowers who own a mobile home that is not on a permanent foundation are also eligible. In addition, borrowers purchasing in a Targeted Census Tract do not have to be first-time buyers. All borrowers must still meet other eligibility requirements.

The NC Home Advantage Mortgage™, with or without down payment assistance is available to both first-time and repeat buyers. 

A first-time home buyer is one who has not owned a home as a primary residence within three years of closing on the home they wish to buy now. That means that they may still own other property (a previous residence they have been unable to sell, for example) as long as they have not lived in it within the last three years. Military veterans are also considered first-time home buyers.

The NC Home Advantage Mortgage™ has an income limit of $87,500 statewide but no sales price limit. However, the home price does need to adhere to any limits dictated by the loan type (FHA, VA, USDA, conventional). 

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Investors

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

North Carolina Housing Finance Agency

3508 Bush Street Raleigh, NC 27609
tel919-877-5700

Disclaimer (please scroll and read, then proceed below)

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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