NC Home Advantage Mortgage — NCHFA

About This Program

The NC Home Advantage Mortgage is a competitive-rate first mortgage with down payment assistance up to 5% of the loan amount, fully forgiven after 15 years. First-time buyers and veterans may additionally access the NC 1st Home Advantage Down Payment of $15,000 (0% deferred, forgiven in years 11–15). Income limit is $152,000; purchase price cap is $495,000.

Estimate for $15,000 NC 1st Home Advantage DPA for a first-time buyer.

Key Details

• Income limit: $152,000 household income
• Purchase price cap: $495,000
• 1st Home Advantage DPA: $15,000, forgiven 20%/yr in years 11–15
• Minimum credit score: 640 (660 for manufactured homes)
• Must complete homebuyer education course through NCHFA-approved provider

How to Apply

Deadline: Rolling