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NCHFA Home Advantage Mortgage Program- Overview

About the North Carolina Housing Finance Agency 

The N.C. Housing Finance Agency’s  (NCHFA)  mission is to create affordable housing opportunities for North Carolinians whose needs are not met by the market.  The NCHFA is a self-supporting public agency that provides financing through the sale of tax-exempt bonds and management of federal and state tax credit programs, the federal HOME Program, the state Housing Trust Fund, and other programs.

The Agency offers low-cost mortgages such as the NC Home Advantage Mortgage, finances the development of affordable apartments and homes, and special-needs housing, finances rehab and emergency repairs of owner-occupied homes, and offers foreclosure prevention assistance. Since its 1973 creation by the General Assembly, the Agency has financed 231,400 affordable homes and apartments, totaling $16 billion.

How NCHFA can help with your home purchase:

The North Carolina Housing Finance Agency uses a program called the NC Home Advantage Mortgage Loan to make home ownership affordable for eligible home buyers whether buying for the first time or moving up.  The NC Home Advantage Mortgage offers competitive financing and forgivable down payment assistance. 

NCHFA does not make the loan directly to the borrower.  Once you have decided to purchase, you will need to apply for the NC Home Advantage Mortgage Program through a participating Lender. 

There are several different loan assistance options for borrowers to choose from which includes...

  •   NC Home Advantage RATE ONLY option - Provides borrower a below market interest rate. NOTE: This can NOT be used with NCHFA's down payment assistance option. More info...
  •   3% down payment assistance - Provides 3% of purchase price to be used for borrower's down payment, closing costs or pre-paids. More info...
  •   5% down payment assistance -  Provides 5% of purchase price to be used for borrower's down payment, closing costs or pre-paids. More info...

First-time home buyers may also qualify for a Mortgage Credit Certificate better known as the MCC credit, which can reduce your federal taxes by up to $2,000 for every year you live in your home. *Rates vary for each option. 

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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