The NC Home Advantage Mortgage™ provides eligible home buyers with competitive interest rates and down payment assistance up to 5% of the loan amount. These loans are funded through the sale of government-insured or Fannie Mae-incurred mortgage-backed securities.
First-time home buyers and military veterans with lower incomes may be eligible for the NC 1st Home Advantage Down Payment, which provides $8,000 in down payment help.
Using down payment assistance,you can get up to 100% financing on FHA, USDA and VA loans. We also offer 3% down payment assistance on conventional 97% LTV loans, minimizing your upfront investment.
To be eligible for the NC Home Advantage Mortgage™, you must:
- Purchase a home in North Carolina
- Occupy the home as their principal resident within 60 days of closing
- Have an income not exceeding $87,500
- Have a credit score of 640 or higher
- Be a legal resident of the United States.
- Single-family homes
- Duplexes (FHA loans only)
- New manufactured homes (660 credit score required and not eligible for conventional product)