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Home Builders

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. 

  • 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.

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).