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NC HOME ADVANTAGE GRANT

NC Home Advantage Mortgage Loan


As mentioned before, the first big step to taking advantage of this program is to find an NC Home Advantage Mortgage Lender who participates in this homebuyer program.  Not all lenders have the capability to utilize North Carolina Housing Finance Agency homebuyer programs so make sure you do your research upfront to eliminate any issues during your approval process.


Homebuyer Eligibility Requirements & Guidelines:

  • Home borrower must meet FHAVAUSDA or Conventional Loan industry guidelines.
  • Total household income can not exceed $87,500 (if the NC Home Advantage Mortgage is paired with an MCC Credit, then the MCC income guidelines will apply).
  • Maximum debt to income ratio is 45%.
  • Minimum credit score is 640 or higher.
  • Borrower must occupy the property as a principal residence within 60 days after loan closing.
  • Borrower does not have to be a first time homebuyer. Move up buyers can utilize this program as long as they are not on a title at time of closing.
  • Pre-purchase homebuyer education is required prior to closing. Can be done online or in person.
  • NCHFA does not accept loans with non-traditional credit histories, no credit scores or borrowers with one credit score.
  • There is no NCHFA sales price limit for a home financed through the NC Home Advantage Program unless the program is paired with an MCC Credit or you use the $15,000 down payment assistance option.
  •  The residence being purchased must be located in North Carolina and must be eligible for mortgage insurance under FHA, VA, USDA or Conventional loan product.
  • For manufactured homes, borrower must have a 660 credit score or above.

 Properties Eligible for Program:

FOR FHA, USDA, OR VA LOANS :

  • Single family detached or semi-detached
  • Townhomes
  • Condos
  • Modular homes- New or existing
  • Duplexes
  • Manufatured Homes (New, never occupied; double-wide or greater only)

FOR CONVENTIONAL LOANS:

  • Single family detached or semi-detached
  • Townhomes
  • Condos
  • Modular Homes- new or existing
  • NOTE: Duplexes are NOT eligible under the conventional loan program

Helpful Links: 

NC Home Advantage Overview

NCHFA Down Payment Assistance

Eligibility Requirements

Apply for program

Q & A about NC Home Advantage Mortgage

MCC Credit

$15, 000 Down Payment Assistance

Search for Homes 

Charlotte NC area Real Estate

If you would like more information about the NC Home Advantage Mortgage Program or any other available Homebuyer down payment assistance programs, please feel out the form below.  

For a quicker response, or to see if you qualify, you can now APPLY ONLINE.








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Trena Miller

Pruitt Miller Realty Group
Charlotte, NC 28262

704-965-3319
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