Get down payment assistance for homebuying in North Carolina

The North Carolina Housing Finance Agency’s NC 1st Home Advantage Down Payment Program offers $15,000 in down payment assistance to eligible first-time homebuyers and military veterans purchasing a home in North Carolina.

Assistance is provided as a 0%, deferred second mortgage with no monthly payments. The balance is forgiven 20% per year at the end of years 11 through 15, with complete forgiveness at the end of year 15.

To be eligible, you must be a first-time home buyer (meaning you have not owned a home as your principal residence in the past three years) or a military veteran. You must also meet income and sales price limits, have a credit score of 640 or higher, be purchasing a home in North Carolina to occupy as your principal residence within 60 days of closing, and be a legal U.S. resident. Eligible property types include single-family homes, townhouses, condominiums, and manufactured homes (660 credit score required for manufactured homes).

To apply, contact a participating NC Housing Finance Agency lender. Find a list of approved lenders here: https://www.nchfa.com/home-buyers/find-lender

For general questions, contact the NC Housing Finance Agency at 919-877-5700.