NC 1st Home Advantage Down Payment

If you are a first-time home buyer or military veteran and qualify for an NC Home Advantage Mortgage™, you may be eligible for $15,000 in down payment assistance with the NC 1st Home Advantage Down Payment.

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.

Am I Eligible?

You may be eligible for NC 1st Home Advantage Down Payment if:

  • You are a first-time home buyer (you haven't owned a home as your principal residence in the past three years) or a military veteran or are buying in a targeted census tract
  • You meet the income and sales price limits
  • You are purchasing a home in North Carolina
  • You occupy the home as your principal residence within 60 days of closing
  • Your credit score is 640 or higher
  • You are a legal resident of the United States

What Properties are Eligible?

  • Single-family homes
  • Townhouses
  • Condominiums
  • New manufactured homes (660 credit score required)
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North Carolina Housing Finance Agency / 3508 Bush Street / Raleigh, NC 27609 / 919-877-5700

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