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NC Home Advantage Mortgage™

What Is The NC Home Advantage Mortgage™?

North Carolina home buyers have a number of resources available to help them buy a home. One of these is the North Carolina Housing Finance Agency’s NC Home Advantage Mortgage™.

The NCHFA works to make buying a home less complicated by offering affordable mortgage opportunities.

The NC Home Advantage Mortgage™ gives both first-time and move-up buyers stable, fixed-rate mortgages and down payment assistance of up to 5% of the loan amount.

You will only have to repay the down payment if you sell, refinance, or transfer your home within 15 years. Down payment assistance is forgiven at 20% per year after 10 years in the home. So, if you’re buying your dream home and plan on living there for many years, this could be a fantastic opportunity!

Additionally, military veterans and first-time buyers may be eligible to increase savings by combining the NC Home Advantage Mortgage™ with the Mortgage Credit Certificate.

Are You Eligible?

You’re eligible for an NC Home Advantage Mortgage™ if you:

  • are buying a new or existing home in North Carolina
  • occupy the home as your principal residence within sixty days of closing
  • have an annual income that doesn’t exceed $87,500
  • have a credit score that is 640 or higher
  • are applying for an FHA, USDA, VA or conventional loan through a participating lender and meet the sales price limits of the loan type
  • are a legal resident of the United States


Which Properties are Eligible?

  • New and previously owned single-family homes
  • Townhomes
  • Condos
  • Duplexes
  • New manufactured homes (660 credit score required)

Learn More About This Program

If you’re thinking about buying a home in North Carolina, the NC Home Advantage Mortgage™ might be the perfect opportunity for you! Contact us, your Five County Specialists at 919-887-5114 to learn more about this program.

One thought on “NC Home Advantage Mortgage™

  1. I’m interested in this program and to see if I could possibly qualify. I know my credit has taken a big hit the last couple years due to unforseen circumstances so that may hold me back. I’m not sure of my score at this time. Of that was something that would hold me back, could someone cosign for me and I still be eligible? And I probably have a million and 1 more questions, but that is a start.

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