NC Home Advantage Mortgage
NC Home Advantage Mortgage: Down Payment Assistance for Veterans
Military veterans who qualify for the NC Home Advantage Mortgage can receive down payment assistance of up to 3% of the loan amount, structured as a 0% deferred second mortgage forgiven over 15 years.
Details
Military veterans who qualify for the NC Home Advantage Mortgage can receive down payment assistance of up to 3% of the loan amount, structured as a 0% deferred second mortgage forgiven over 15 years. The loan works with FHA, USDA, VA, and conventional mortgages.
Restrictions
Available through participating lenders statewide. Down payment assistance is repaid only if the home is sold, refinanced, or transferred before year 15. Income and purchase price limits apply. Agency also offers the larger NC 1st Home Advantage Down Payment for veterans (see separate entry).
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