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NC Home Advantage Mortgage™

First-Time and Move-Up Home Buyers

Purchasing a home can be overwhelming and complicated. It is our goal to make it simpler by offering affordable mortgage options and connecting you with experienced home buying partners.

Down Payment Assistance

For both first-time and move-up home buyers, our NC Home Advantage Mortgage™ provides qualified individuals with stable, fixed-rate mortgages and down payment assistance up to 3% of the loan amount. The Agency also offers a $15,000 down payment assistance option—the NC 1st Home Advantage Down Payment—just for first-time buyers and military veterans who meet additional eligibility criteria.

Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15—the down payment assistance is forgiven at 20% per year at the end of years 11–15, with complete forgiveness at the end of year 15.

We offer these products through participating lenders statewide.

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Am I eligible?

You may be eligible for an NC Home Advantage Mortgage™ if:

  • You are purchasing a home in North Carolina.
  • You occupy the home as your principal residence within 60 days of closing.
  • Your annual income doesn’t exceed $140,000.
  • Your credit score is 640 or higher.
  • You are applying for an FHA, USDA, VA or conventional loan through a participating lender and meet the sales price limits of the loan type.
  • You are a legal resident of the United States.

What properties are eligible?

  • Single-family homes.
  • Townhouses.
  • Condominiums.
  • Duplexes.
  • 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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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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