Home Builders

The North Carolina Housing Finance Agency offers down payment assistance and competitive rates for first-time and move-up buyers that can widen your market for new home sales. We also provide a 60-day, interest-rate lock period so that you and your buyers don’t need to worry about market fluctuations while the home is being completed.

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  • NC Home Advantage Mortgage™

    Our NC Home Advantage Mortgage™ offers down payment assistance up to 3% of the loan amount! First-time and move-up buyers with incomes up to $126,000 are eligible, and 100% financing is available on certain loan types.
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  • NC Home Advantage Tax Credit

    The NC Home Advantage Tax Credit allows eligible first-time buyers and military veterans who purchase newly built homes to deduct up to 50% of their mortgage interest (up to $2,000) as a federal tax credit each year if they apply and are approved for a Mortgage Credit Certificate prior to their home purchase.
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  • NC 1st Home Advantage Down Payment

    The NC 1st Home Advantage Down Payment provides eligible first-time home buyers and military veterans with $15,000 in down payment assistance.
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Does my customer have to be a first-time buyer to be eligible for the Agency’s mortgage products?

The NC Home Advantage Mortgage™, with or without down payment assistance is available to both first-time and repeat buyers. 

Are there any exceptions to the first-time home buyer rule?

Yes. Military veterans have a one-time exemption from the requirement, and borrowers who own a mobile home that is not on a permanent foundation are also eligible. In addition, borrowers purchasing in a Targeted Census Tract do not have to be first-time buyers. All borrowers must still meet other eligibility requirements.

How much money will my customer need if they use your down payment assistance (DPA)?

That depends on the loan type and seller contribution. The NC Home Advantage Mortgage™ offers up to 3% down payment help for conventional, FHA, VA and USDA financing.  Our maximum Loan-to-Value conventional loan is 97%, so with DPA of 3% of the loan amount, your borrower would need very little of their own money.  On a sales price of $100,000, they would need about $90, which can come from their own funds, a gift, or another DPA source. In addition, the seller is allowed to contribute the maximum the loan program will allow. In the case of a 97% conventional, that amount is 3% of the sales price to put toward closing expenses.  There is no minimum contribution required by the borrower when using the NC Home Advantage Mortgage™.

Where can I find a complete list of participating lenders?

Participating lenders are available statewide and can be found in our searchable database.

How does my customer get an NC Home Advantage Mortgage™ if there aren’t any preferred loan officers or participating lenders in my county?

Loan Officers and lenders approved to work with the Agnecy can offer loans in any county in North Carolina. Your customer is free to contact multiple lenders and select the one that best fits their needs.