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NC Home Advantage Mortgage Questions, Answers & Reviews

The NC Home Advantage down payment assistance program is still a fairly new homebuyer program to the market and has created quite a buzz from first time home buyers as well as move up buyers wanting to know more about the program or how to take advantage of it.

As home buyer program specialists, we can honestly say this program has become a top favorite among home buyers looking for financial assistance to help with their down payment.  

There are definitely a lot of pros in using the NC Home Advantage loan which includes...

*  Provides assistance with down payment & closing costs
*  Grant funds are interest-free, deferred, and fully forgivable after 15 years
*  Competitive interest rates
*  NC Home Advantage Program has 5 different home buyer assistance options to choose from
*  You don't have to be a first time home buyer to utilize NC Home Advantage 
*  The required home buyer education class can be done online, instead of in person 

Frequently asked questions about the NC Home Advantage Mortgage Loan Program

"What is the minimum credit score requirement?"

As of 2015, the minimum credit score required for the NC Home Advantage Program is 640 or above.  

"Can you use this program in conjunction with other Charlotte NC down payment assistance programs?"

Yes. There are several other programs you can use with this program depending on what your needs are. 

"Can I use this program if I'm not a first time homebuyer?" 

Yes. The NC Home Advantage Program is for move up buyers as well. You just can not own a home or be on a title to a home at the time your loan is submitted to NCHFA.  

"What are some of the cons to the program or things about the program I need to be aware of before getting started?"

The first big step to taking advantage of this program is to find a participating NC Home Advantage Mortgage Lender. Not all lenders have the capability to utilize this program so make sure you do your research upfront to eliminate any issues or delays with your closing. 

Surprisingly, some lenders and real estate agents know or have the capability to assist homebuyers with this program but choose not to because they consider this program, along with all the other Homebuyer programs to be too much extra work and paperwork involved.

The NC Home Advantage Mortgage can be quite confusing to navigate through the process and deciding which part of the program is more suitable for your homebuying needs.  Having a realtor or a lender that is familiar with the program helps tremendously. 

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

For more information about the NC Home Advantage Down Payment Assistance Program or you need assistance navigating through the program, please fill out the form below or for a faster response, call us at 704-965-3319.  

To get pre-approved for this program, you can now APPLY ONLINE

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Charlotte, NC 28262

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