NC Home Advantage Mortgage with Down Payment Assistance
Home buying help for North Carolina firefighters
Paid and volunteer firefighters in North Carolina can get forgivable down payment help of up to 3% or $15,000 with an NCHFA mortgage.
Step 1: Confirm your job is covered
Paid and volunteer firefighters both qualify on the same terms as any buyer. NCHFA doesn't check your job. You need to meet the income, credit and home rules, and the first-time-buyer rule for the $15,000 option.
Your lender verifies income and employment through normal underwriting. No department letter is required by NCHFA.
The NC Home Advantage Mortgage is a 30-year fixed-rate loan from the North Carolina Housing Finance Agency (NCHFA), offered through participating lenders. It comes with forgivable down payment help: up to 3% of the loan for first-time and move-up buyers, or $15,000 through the NC 1st Home Advantage Down Payment for qualifying first-time buyers and military veterans. The programs are open to any eligible buyer, so teachers and first responders qualify on the same income, credit and home rules as everyone else.
Shift schedules and second jobs
Many firefighters work 24-hour shifts and pick up a second job. A lender can count steady second-job income if it has enough history, which can help you qualify. Remember that all qualifying income counts toward the $158,000 limit for the NC Home Advantage Mortgage.
Volunteers
Volunteer firefighters qualify too. Because NCHFA has no occupation rule, what matters is the income from your main job, your credit and the home you buy.
Step 2: Collect these papers
- Pay stubs from each job you want counted
- Two years of W-2s, especially for second-job income
- Homebuyer education certificate, if every borrower is a first-time buyer
- Bank statements for your savings
Step 3: Read the common questions
Do volunteer firefighters qualify?
Yes. NCHFA's programs are open to any eligible buyer, paid or volunteer.
Can I get both the 3% and the $15,000?
No. You choose one. The $15,000 is for first-time buyers and qualifying veterans, and the 3% is open to move-up buyers too.
Would Homes for Heroes give firefighters more?
It would, if it ever passes. The bill proposes up to the lesser of $25,000 or 10% of the price, but it is pending and not funded.
