NC Residence Advantage Mortgage. Advance Payment Assistance

First-Time and Move-Up Home Purchasers

Buying a true home may be overwhelming and complicated. It’s our objective making it easier by providing mortgage that is affordable and linking you with experienced home buying partners.

Advance Payment Assistance

Both for first-time and home that is move-up, our NC Residence Advantage Mortgage™ provides qualified individuals with stable, fixed-rate mortgages and deposit support as much as 5 % regarding the loan quantity. The Agency now offers an $8,000 advance payment assistance option—the NC 1 st Home Advantage Down Payment—just for first-time purchasers and veterans that are military meet extra eligibility requirements.

Payment of all of the of y our advance payment options is needed as long as you offer, refinance or transfer your property before 15—the down payment assistance is forgiven at 20 percent per year at the end of years 11-15, with complete forgiveness at the end of year 15 year.

As an extra bonus, up to $2,000 per year on your federal taxes if you apply and are approved for a Mortgage Credit Certificate by the NC Housing Finance Agency prior to your home purchase if you are a first-time buyer or a military veteran, you may also be eligible to combine the NC Home Advantager Mortgage™ with the NC Home Advantage Tax Credit which could save you. (This can’t be combined with NC 1 st Home Advantage advance payment. )

You can expect these items through participating loan providers statewide.

Wish to find out more very first? View the video below about how exactly the NC Residence Advantage Mortgage™ can be your mortgage that is perfect match. Then look at eligibility demands about this page to see in the event that you might qualify also to discover ways to get going.

Recent News

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Am I Qualified?

You may qualify for an NC Residence Advantage Mortgage™ if:

  • You will be investing in house in new york.
  • You occupy the house as the major residence within 60 times dollar loan center payment plan of closing.
  • Your yearly income does not surpass $89,500.
  • Your credit rating is 640 or maybe more.
  • You will be trying to get an FHA, USDA, VA or traditional loan through a participating loan provider and meet up with the product product sales cost limitations regarding the loan kind.
  • You may be a resident that is legal of united states of america.

What Qualities qualify?

  • Single-family domiciles.
  • Townhouses.
  • Condominiums.
  • Duplexes.
  • New manufactured domiciles (660 credit rating needed).


If you’re entitled to the NC Residence Advantage Mortgage™, install our house customer certification to just simply just take to a participating loan provider!

Prepared for the alternative? Browse our variety of participating loan providers to get one towards you!

Forms & Resources

Residence Purchasers

Current Property Owners


Home Ownership Partnership

Rental Housing Partners

Vermont Housing Finance Agency

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All information included from the after website pages is acquired through the Agency’s publications and records, and it is considered to be accurate and dependable. Guide must certanly be meant to the formal statement and operative documents of each and every a number of bonds referred to herein for complete all about that problem. Due to the chance of individual and mechanical mistake along with other facets, these records is supplied “as is” without guarantee of any sort with no representation or guarantee, expressed or suggested, is created, nor should any be inferred, regarding the precision, timeliness, or completeness with this information. Under no circumstances shall new york Housing Finance Agency have obligation to your individual or entity for (a) any loss or harm in entire or component brought on by, caused by, or concerning any error (because of neglect or perhaps) or any other situation taking part in procuring, collecting, compiling, interpreting, analyzing, modifying, transcribing, transmitting, interacting or delivering these details, or (b) any direct, indirect, unique, consequential, or incidental damages whatsoever, even though new york Housing Finance Agency is preferred prior to the likelihood of these damages, caused by the usage, or failure to utilize, any information that is such. These records pertains to connect dilemmas of this new york Housing Finance Agency which were offered and distributed in underwritten general general public offerings described when you look at the related official statements. Each audience of this aforementioned information acknowledges that (i) the vermont Housing Finance Agency isn’t now by this document providing any bonds or any other securities, nor soliciting an offer to get any securities, (ii) these records isn’t become construed as any description of this new york Housing Finance Agency-such offerings are merely made pursuant into the appropriate formal statements for the vermont Housing Finance Agency, (iii) the data provided speaks just at the time of the date thereof plus the new york Housing Finance Agency have not by any means undertaken to upgrade such information, and (iv) no representation is manufactured regarding the propriety or legality of every additional market trading regarding the bonds or other securities associated with the vermont Housing Finance Agency by anybody in almost any jurisdiction. The monetary condition of this vermont Housing Finance Agency could have changed because the date these records had been ready.

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