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Get Matched Free →NC 1st Home Advantage Down Payment
Funding status: Active
How much assistance
$15,000
0% interest deferred second mortgage. Forgiven at 20% per year at end of years 11-15. Fully forgiven after year 15. Repayment of unforgiven balance required if sold, refinanced, or transferred before year 15.
Eligibility
- Income limits: Varies by county and household size (NCHFA income and sales price limits); must be used with an NC Home Advantage Mortgage
- Purchase price limit: $495,000
- First-time buyer required: Yes — Have not owned a home as principal residence in the past 3 years. Military veterans and buyers in targeted census tracts also eligible regardless of ownership history.
- Credit score minimum: 640
- Geographic restrictions: Must purchase in North Carolina; must use NC Home Advantage Mortgage; must occupy as principal residence within 60 days
- Homebuyer education required: No
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