NC Home Advantage Mortgage with Down Payment Assistance
Home buying help for North Carolina teachers
North Carolina teachers can use NCHFA's NC Home Advantage Mortgage with up to 3% or $15,000 in forgivable down payment help. Here's how it works.
Step 1: Confirm your job is covered
NCHFA's programs have no occupation rule. Public, private and charter school teachers all qualify like any other buyer, as long as they meet the income, credit and home rules. For the $15,000 option, you also need to be a first-time buyer (no principal residence owned in the past 3 years).
There's no teacher certificate or employer letter for NCHFA. Your lender verifies your income and employment the same way it would for any mortgage.
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.
Summer pay and a 10-month contract
Lenders look at your yearly income, not just the months you're in the classroom. Whether your district pays over 10 or 12 months, have your contract and recent pay stubs ready so the loan officer can show steady income. The $158,000 income limit for the NC Home Advantage Mortgage counts qualifying income, and the $15,000 option uses county family income limits shown on our income limits page.
What about Homes for Heroes?
Senate Bill 789 would give first-time buyers employed full-time as teachers up to the lesser of $25,000 or 10% of the price. It's still in a Senate committee and has not been funded, so it isn't something you can use today. If you're ready to buy now, the NCHFA options are the way to go.
Step 2: Collect these papers
- Recent pay stubs and your two most recent W-2s
- Your teaching contract, if your pay is spread over 10 or 12 months
- Homebuyer education certificate, if every borrower is a first-time buyer
- Bank statements for your savings
Step 3: Read the common questions
Do private and charter school teachers qualify?
Yes. NCHFA has no job requirement, so where you teach doesn't matter. You qualify by meeting the income, credit and home rules.
Can teacher assistants and school staff use it too?
Yes. Any eligible buyer can use the NC Home Advantage Mortgage, including assistants, counselors, bus drivers and office staff.
Is there a teacher-only bonus?
Not under current law. The Homes for Heroes bill would add one, but it is pending and not funded.
