DownPaymentMap

NC Home Advantage: Down Payment Help & Eligibility

NC Home Advantage MortgageAdministered by North Carolina Housing Finance AgencyForgivable loanNorth Carolina

Reviewed by Tyler Thompson, holds real estate licenses in North Carolina and South Carolina

Published · Facts verified against the official source

What Is NC Home Advantage Mortgage?

NC Home Advantage Mortgage is a statewide North Carolina homebuyer program that combines a 30-year fixed-rate first mortgage with down payment assistance of up to 3% of the loan amount. The North Carolina Housing Finance Agency (NCHFA) offers it through participating lenders to both first-time and move-up buyers purchasing a home anywhere in the state, paired with an FHA, USDA, VA, or conventional loan.

The assistance itself is a deferred, forgivable second mortgage carrying a 0% interest rate, and it can also cover closing costs and prepaid items, not just the down payment.

NC Home Advantage Mortgage at a glance

Maximum help
Up to 3% of the loan amount.
Kind of help
A forgivable loan.
Interest and forgiveness
0% interest. Forgiven after 15 years.
Income limit
Household income up to $158,000.
First-time buyers only?
No. Repeat buyers can use this program.
Credit
Minimum credit score 640.
Loan types
FHA, USDA, VA, conventional.
Home price limit
Borrowers must meet the sales price limits of the applicable loan type.
Where
Anywhere in North Carolina.
Homebuyer education
Required.
Current funding status
Funding status could not be confirmed.
Who runs it
North Carolina Housing Finance Agency

What that could look like in dollars

Loan amountUp to
$200,000$6,000
$250,000$7,500
$300,000$9,000
$350,000$10,500
$400,000$12,000

Illustration only. Up to 3% of the first mortgage amount. The administrator decides the actual amount.

Check your eligibility

Answer a few quick questions to see whether NC Home Advantage Mortgage and other North Carolina programs may fit you.

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How Much Down Payment Assistance Does NC Home Advantage Mortgage Give?

The assistance is set as a percentage of your first mortgage: up to 3% of the loan amount. There is no separate fixed dollar cap on top of that percentage, so the exact amount follows the size of your loan.

Who Qualifies for NC Home Advantage Mortgage?

The North Carolina Housing Finance Agency sets these requirements for borrowers:

  • Income: Annual household income up to $158,000 statewide.
  • Credit score: 640 or higher; manufactured homes require a 660 credit score.
  • Debt-to-income ratio: Up to 45%, with automated underwriting system approval.
  • First-time or repeat buyers: Open to both first-time and move-up buyers.
  • Property types: Single-family homes, townhomes, condominiums, and manufactured homes.
  • Occupancy: You must occupy the home as your principal residence within 60 days of closing.
  • Residency: You must be a legal resident of the United States.
  • Loan types: Paired with an FHA, USDA, VA, or conventional first mortgage.

The participating lender decides who qualifies for the underlying mortgage.

Is NC Home Advantage Mortgage a Grant or a Loan?

NC Home Advantage Mortgage's down payment help is a deferred, forgivable second mortgage, not a grant. It carries a 0% interest rate and needs no monthly payments as long as you keep the home.

Do You Have to Pay NC Home Advantage Mortgage Back?

You do not have to repay the down payment assistance if you keep the home as your primary residence through year 15. It is forgiven at 20% per year at the end of years 11 through 15, with complete forgiveness at the end of year 15. Selling, refinancing, or transferring the home before then makes the unforgiven part due.

What Loans Work With NC Home Advantage Mortgage?

NC Home Advantage Mortgage pairs its down payment assistance with an FHA, USDA, VA, or conventional first mortgage, arranged through a participating lender. Your home also has to meet the sales price limits that apply to the loan type you choose.

Where Is NC Home Advantage Mortgage Available?

NC Home Advantage Mortgage is available anywhere in North Carolina, through the Agency's network of participating lenders. Want to see what else North Carolina offers? Compare other North Carolina down payment assistance programs or find which programs may fit you.

Alamance CountyAlexander CountyAlleghany CountyAnson CountyAshe CountyAvery CountyBeaufort CountyBertie CountyBladen CountyBrunswick CountyBuncombe CountyBurke CountyCabarrus CountyCaldwell CountyCamden CountyCarteret CountyCaswell CountyCatawba CountyChatham CountyCherokee CountyChowan CountyClay CountyCleveland CountyColumbus CountyCraven CountyCumberland CountyCurrituck CountyDare CountyDavidson CountyDavie CountyDuplin CountyDurham CountyEdgecombe CountyForsyth CountyFranklin CountyGaston CountyGates CountyGraham CountyGranville CountyGreene CountyGuilford CountyHalifax CountyHarnett CountyHaywood CountyHenderson CountyHertford CountyHoke CountyHyde CountyIredell CountyJackson CountyJohnston CountyJones CountyLee CountyLenoir CountyLincoln CountyMcDowell CountyMacon CountyMadison CountyMartin CountyMecklenburg CountyMitchell CountyMontgomery CountyMoore CountyNash CountyNew Hanover CountyNorthampton CountyOnslow CountyOrange CountyPamlico CountyPasquotank CountyPender CountyPerquimans CountyPerson CountyPitt CountyPolk CountyRandolph CountyRichmond CountyRobeson CountyRockingham CountyRowan CountyRutherford CountySampson CountyScotland CountyStanly CountyStokes CountySurry CountySwain CountyTransylvania CountyTyrrell CountyUnion CountyVance CountyWake CountyWarren CountyWashington CountyWatauga CountyWayne CountyWilkes CountyWilson CountyYadkin CountyYancey County
Available anywhere in North Carolina. Where the program applies, from its approved record.

How to Apply for NC Home Advantage Mortgage

Start by finding a participating lender and applying for an FHA, USDA, VA, or conventional loan; NCHFA does not take applications directly. First-time homebuyers also need to complete pre-purchase homebuyer education — only one borrower on the loan has to take it, and the certificate is valid for one year.

NC Home Advantage Mortgage Example: First-Time Buyer in Durham County

Picture a first-time buyer in Durham County, a household of two earning $70,000 a year, ready to close on a $310,000 home with an FHA loan.

Illustration only

Where
Durham County
Household
2 people
Income
$70,000 a year
Home price
$310,000

Up to about $9,3003% of the loan amount. Worked out on the full price; the loan is usually a little less

May fit, with a question on the rules below, checked against the current record.

  • Where: Available anywhere in North Carolina.
  • Property: Allows up to duplexes.
  • Income: Within the limit of $158,000.
  • First-time buyer: Open to repeat buyers.
  • Home price: No maximum home price is stated.
  • Who it is for: Open to anyone.
  • Funding: Funding could not be confirmed.

An example household, not a quote. Only the administrator decides who qualifies and for how much.

NC Home Advantage Mortgage Example: Repeat Buyer in Mecklenburg County

Now picture a repeat buyer in Mecklenburg County, a household of three earning $95,000 a year, buying a $340,000 home with a conventional loan — NC Home Advantage Mortgage does not require first-time buyer status.

Illustration only

Where
Mecklenburg County
Household
3 people
Income
$95,000 a year
Home price
$340,000

Up to about $10,2003% of the loan amount. Worked out on the full price; the loan is usually a little less

May fit, with a question on the rules below, checked against the current record.

  • Where: Available anywhere in North Carolina.
  • Property: Allows up to duplexes.
  • Income: Within the limit of $158,000.
  • First-time buyer: Open to repeat buyers.
  • Home price: No maximum home price is stated.
  • Who it is for: Open to anyone.
  • Funding: Funding could not be confirmed.

An example household, not a quote. Only the administrator decides who qualifies and for how much.

Questions about NC Home Advantage Mortgage

What is the income limit for NC Home Advantage Mortgage?

Your household's annual income cannot exceed $158,000, the same limit statewide.

How much down payment assistance does NC Home Advantage Mortgage give?

It gives down payment assistance of up to 3% of your first mortgage loan amount.

Can repeat buyers use NC Home Advantage Mortgage?

Yes. NC Home Advantage Mortgage is open to both first-time and move-up buyers, not first-time buyers only.

Does NC Home Advantage Mortgage help pay closing costs?

Yes. The down payment assistance can also be used for closing costs and prepaid items, not just the down payment.

Can you refinance after using NC Home Advantage Mortgage?

Refinancing before year 15 makes the unforgiven part of the assistance due, since it is forgiven at 20% a year from year 11 through year 15.

How do you find a participating lender for NC Home Advantage Mortgage?

The North Carolina Housing Finance Agency (NCHFA) works through a network of participating lenders rather than taking applications directly, so contact NCHFA or a lender to get started.

Is NC Home Advantage Mortgage available in every North Carolina county?

Yes. It is offered statewide through participating lenders, with no county left out.

What credit score do you need for NC Home Advantage Mortgage?

You need a credit score of 640 or higher; manufactured homes require a 660 credit score.

Is NC Home Advantage Mortgage forgiven over time?

Yes. It is forgiven at 20% per year at the end of years 11 through 15, with complete forgiveness at the end of year 15, as long as you keep the home.

Does NC Home Advantage Mortgage work with FHA or VA loans?

Yes. It pairs with FHA, VA, USDA, or conventional first mortgages through a participating lender.

Complete NC Home Advantage Mortgage program record

The nineteen things a buyer needs to know, in the same order on every program page, each checked against the program’s official sources. Where the program does not state one, this says so.

  • 19 program details reviewed; 17 stated by the program
  • 6 official sources checked from North Carolina Housing Finance Agency
  • Last verified September 21, 2026
  • Current funding status could not be confirmed
View all 19 verified program details ↓

  1. 1 of 19

    Program name

    NC Home Advantage Mortgage

    From the official source

  2. 2 of 19

    Who runs it

    North Carolina Housing Finance Agency

    919-877-5700

    From the official source
    • “The North Carolina Housing Finance Agency is a self-supporting public agency that provides safe, affordable housing opportunities to enhance the quality of life of North Carolinians.”

      https://www.nchfa.com/about-us · About Us — opening paragraph

    • “North Carolina Housing Finance Agency / 3508 Bush Street / Raleigh, NC 27609 / 919-877-5700”

      https://www.nchfa.com/about-us · About Us — page footer

  3. 3 of 19

    Kind of help

    A forgivable loan.

    Down payment assistance through a deferred, forgivable second mortgage paired with a 30-year fixed-rate first mortgage; assistance may be used for down payment assistance, closing costs, and prepaid items.

    From the official source

  4. 4 of 19

    Maximum amount

    Up to 3% of the loan amount.

    Down payment assistance up to 3% of the loan amount.

    From the official source

  5. 5 of 19

    Amount tiers

    The program does not state this. Ask the administrator before relying on it.

  6. 6 of 19

    Forgiveness, interest and term

    0% interest. Forgiven after 15 years.

    Repayment is required if the home is sold, refinanced, or transferred before year 15. Assistance is forgiven 20% per year at the end of years 11 through 15, with complete forgiveness at the end of year 15.

    From the official source

  7. 7 of 19

    Income limit

    Household income up to $158,000.

    Annual income does not exceed $158,000 statewide.

    From the official source

  8. 8 of 19

    First-time buyer rule

    No. Repeat buyers can use this program.

    Available to both first-time and move-up home buyers.

    From the official source

  9. 9 of 19

    Maximum home price

    Borrowers must meet the sales price limits of the applicable loan type.

    From the official source

  10. 10 of 19

    Other must-know rules

    You must live in the home as your primary residence. Eligible property types: single family, townhome, condo, manufactured.

    Purchase must be in North Carolina; borrower must occupy the home as principal residence within 60 days of closing; borrower must be a legal resident of the United States. Program guide states a maximum 45.0% DTI ratio and requires AUS approval.

    From the official source

  11. 11 of 19

    Where it applies

    Anywhere in North Carolina.

    Offered through participating lenders statewide for homes purchased in North Carolina.

    From the official source

  12. 12 of 19

    Current funding status

    Funding status could not be confirmed.

    Official sources describe the program as available through participating lenders, but the reviewed sources do not explicitly state that funds are currently available; status is therefore unknown under the research rule.

    Checked 2026-09-20.

    From the official source

  13. 13 of 19

    How to apply

    Apply for an FHA, USDA, VA, or conventional loan through a participating lender. The Agency directs consumers to find a participating lender to get started.

    From the official source

  14. 14 of 19

    Official source

    https://www.nchfa.com/home-buyers/buy-home/nc-home-advantage-mortgage

  15. 15 of 19

    Dates

    The Agency announced increased NC Home Advantage Mortgage income limits on June 23, 2026.

    From the official source

  16. 16 of 19

    Report a mistake

    Use the form on this page.

  17. 17 of 19

    Credit requirements

    Minimum credit score 640.

    Credit score of 640 or higher; manufactured homes require a 660 credit score.

    From the official source

  18. 18 of 19

    Eligible loan types

    FHA, USDA, VA, conventional.

    FHA, USDA, VA or conventional loan through a participating lender.

    From the official source

  19. 19 of 19

    Homebuyer education

    Required.

    Pre-purchase education is required for first-time homebuyers; only one borrower is required to take the training and the certificate is valid for one year.

    From the official source

Report a mistake

If a figure here does not match the program’s own terms, tell us. Every report is read by a person and checked against the official source before the record changes.

A link to the official page or document helps most. Please do not include account numbers, your Social Security number or other financial details.

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Programs differ in how much they give, who they are for, where they apply and how they are repaid. These may be worth comparing.

Compare all North Carolina programs →

Official sources for NC Home Advantage Mortgage

The facts on this page were taken from these sources. Read the program’s own terms there before you rely on a figure.

Visit the official source →

Program rules can change. Confirm current terms with North Carolina Housing Finance Agency or a participating lender before you rely on a figure. Record version 1.

Educational information, not a loan offer or an eligibility decision. Read the disclaimer or how we verify programs.