NC 1st Home Advantage Down Payment
NC 1st Home Advantage Down Payment: $15,000 for Veterans
Military veterans who qualify for the NC Home Advantage Mortgage can receive $15,000 in down payment assistance through this program, more than the standard 3% option.
Details
Military veterans who qualify for the NC Home Advantage Mortgage can receive $15,000 in down payment assistance through this program, more than the standard 3% option. It is structured as a 0% deferred second mortgage, forgiven at 20% per year at the end of years 11 through 15, with full forgiveness at year 15.
Restrictions
Unlike the standard NC Home Advantage Mortgage down payment, this program is exclusive to first-time home buyers and military veterans. No repayment required if home is kept through year 15. Offered through participating lenders, verify current income/purchase price limits at nchfa.com.
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