The NC 1st Home Advantage Down Payment provides eligible first-time home buyers and military veterans with $15,000 in down payment help. Similar to the other down payment assistance options available with the NC Home Advantage Mortgage™, this down payment help is a 0%, deferred second mortgage, which is forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15. These loans are funded through the sale of tax-exempt mortgage revenue bonds.
Using this down payment assistance, you can offer your customers up to 100% financing on FHA, USDA, VA and conventional loans, reducing the amount of money your buyer has to bring to the table. Our mortgage products are offered through participating lenders statewide.