NC 1st Home Advantage Down Payment
North Carolina Housing Finance Agency (NCHFA)
Amount: $15,000 down payment assistance, structured as a 0% interest, deferred second mortgage. Forgiven at 20% per year during years 11-15, with full forgiveness at the end of year 15 (repayment due only if home is sold, refinanced, or transferred before then).
Type: Forgivable deferred second mortgage (state HFA program)
Must be a first-time buyer (no principal residence owned in the past 3 years) OR an eligible military veteran (or purchasing in a targeted census tract); credit score of 640+ (660 for manufactured homes); household income cannot exceed NCHFA's published limit (currently up to $158,000, varies by county/household size); must also qualify for and use an NC Home Advantage Mortgage; home must become principal residence within 60 days of closing; must meet applicable sales price limits.
NC Home Advantage Mortgage
North Carolina Housing Finance Agency (NCHFA)
Amount: Down payment assistance up to 3% of the loan amount (can be combined/stacked with the $15,000 NC 1st Home Advantage Down Payment for eligible first-time buyers/veterans).
Type: First mortgage program with attached down payment assistance (state HFA program)
Open to both first-time and move-up (repeat) buyers; credit score 640+ (660 for manufactured homes); annual household income cannot exceed $158,000 (per NCHFA's current limit); usable with FHA, USDA, VA, or conventional loans through a participating lender; property must be in North Carolina and become primary residence within 60 days of closing; sales price limits apply.
Community Partners Loan Pool (CPLP)
North Carolina Housing Finance Agency (NCHFA), delivered through approved local Community Partner organizations
Amount: Up to 25% of the home's purchase price, capped at a $50,000 second mortgage. NCHFA has budgeted up to $12.5 million for CPLP assistance in 2026.
Type: Low-interest/deferred second mortgage program for low- and moderate-income buyers (state HFA program, partner-delivered)
Total household income at or below 80% of the Area Median Income (AMI) for the county of purchase; minimum credit score of 640; housing (front-end) ratio between 28-32%; total debt-to-income ratio capped at 45%; must complete an approved homebuyer education course plus at least 2 hours of in-person housing counseling; must purchase through a participating NCHFA Community Partner.