Do you qualify for the NC 1st Home Advantage Down Payment Program?
NC 1st Home Advantage Down Payment Program is a program offered by the North Carolina Housing Finance Agency. This program offers $8,000 in down payment assistance to first time buyers or military veterans looking for a home in North Carolina. First-time buyers can also be anyone who hasn’t owned a home as their principal residence in the past three years. You may also qualify if you are buying in a targeted census tract.
The down payment is a 0% interest second mortgage that is forgiven at a rate of 20% per year starting with year 11 of ownership. That means by year 15 the second mortgage is completely forgiven! The program can be used for the purchase of townhomes, condominiums, single-family homes and new manufactured homes.