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Home Means Possibility—Our Mortgage Products Can Help Make it a Reality

a living room with a couch

Home is much more than just a house to live in—it’s a place to make memories, space for your family to grow, a foundation for your future. Home means possibility. If you’ve been dreaming about all the different things that a home might mean for you for National Home Ownership Month, then you need to know about affordable mortgage options from the North Carolina Housing Finance Agency that can help make your dreams of home ownership affordable.

The NC Home Advantage Mortgage™
The NC Home Advantage Mortgage™ offers stable, fixed-rate, 30-year mortgages with down payment assistance of up to 5% of the loan amount. These mortgages can be structured as FHA, USDA, VA or conventional loans, and they are available for first-time and move-up buyers who earn up to $89,500 statewide. Down payment assistance is offered as a deferred, zero-interest second mortgage that is forgiven at a rate of 20% per year starting at the end of year 11 and considered fully forgiven at the end of 15 years.

The NC 1st Home Advantage Down Payment
To help first-time buyers and military veterans over the down payment hurdle, the NC 1st Home Advantage Down Payment provides an even bigger boost of $8,000. You are considered a first-time buyer if you haven’t owned a home as your principal residence in the past three years. This loan is structured the same as the other down payment assistance with the same forgiveness terms.

NC Home Advantage Tax Credit
First-time home buyers and military veterans are also eligible for the NC Home Advantage Tax Credit, which saves buyers up to $2,000 per year on federal taxes with a Mortgage Credit Certificate. This frees up more money for buyers to put toward their mortgage. The NC Home Advantage Tax Credit can be combined with the down payment assistance offered with the NC Home Advantage Mortgage™ for even more money-saving power, but not with the NC 1st Home Advantage Down Payment. Buyers must apply and be approved for the Mortgage Credit Certificate by our Agency before closing on the home.

Community Home Buying Programs
You also may be eligible for help from a local government or nonprofit organization that use our funds to make home ownership more affordable. Community Partners Loan Pool (CPLP) members offer 0% interest, deferred, second mortgages for up to 20% of the sales price, not to exceed $30,000 when used in conjunction with our NC Home Advantage Mortgage™ or up to 10% when combined with a USDA Section 502 loan. CPLP may be combined with other second mortgage and down payment assistance programs, including the NC 1st Advantage Mortgage Down Payment. Self-Help Loan Pool (SHLP) members, which include Habitat for Humanity affiliates, use our financing to provide a single, interest-free loan to help eligible buyers purchase homes that are built or rehabbed by their organizations. To learn more about these programs, visit

How Can You Enjoy the Possibilities?
We work with lenders, real estate agents, local governments and nonprofit organizations across the state to make home ownership attainable for North Carolinians. Learn if you are eligible for one of our mortgage products and what the possibilities of home ownership might mean for at