NC Home Advantage Mortgage

How much assistance

Up to 5% of the loan amount (Deferred Loan)

0% interest deferred second mortgage. Forgiven at 20% per year at end of years 11-15. Fully forgiven after year 15. Repayment required if home is sold, refinanced, or transferred before year 15.

Eligibility

• Income limits: $152,000 annual household income
• Purchase price limit: $495,000
• First-time buyer required: No
• Credit score minimum: 640
• Geographic restrictions: Must purchase in North Carolina; must occupy as principal residence within 60 days
• Homebuyer education required: No

Notes

DPA percentage discrepancy: consumer-facing page says up to 3%, lender/partner page and Feb 2026 Program Guide say up to 5%. Using 5% as most current figure. 660 credit score required for manufactured homes. Eligible loan types: FHA, VA, USDA, Conventional (30-year fixed). Eligible properties: single-family, townhouses, condos, new manufactured homes.