Status note: Homes for Heroes (SB 789) is only a proposal, not law. NCHFA's 3% and $15,000 forgivable down payment options are open now.Run the 2-minute check
(800) 555-0100 Start the check

NC Home Advantage Mortgage with Down Payment Assistance

Home buying help for North Carolina veterans

North Carolina veterans can get the $15,000 NC 1st Home Advantage Down Payment once, even if they owned a home before. See the service rules.

Step 1: Confirm your job is covered

Veterans get the only job-linked rule in NCHFA's programs: a one-time exception from the first-time-buyer rule for the $15,000 NC 1st Home Advantage Down Payment. To use it you need:

  • 181 or more consecutive days of active duty
  • An honorable discharge
  • To apply before the 25th anniversary of leaving active service
  • No other home owned at closing

You prove service with your DD214 showing an honorable discharge.

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.

VA loans work too

The NC Home Advantage Mortgage can be a VA loan, as well as FHA, USDA or conventional. Your loan officer can show you whether pairing a VA loan with the $15,000 or the 3% option works better for you.

Veterans in public service jobs

Many North Carolina veterans now teach, serve as officers or work in fire and EMS. Your current job doesn't add anything under today's programs, but your service history can open the $15,000 option. Homes for Heroes (SB 789) would also cover veterans, but it is pending and not funded.

Step 2: Collect these papers

  • DD214 showing an honorable discharge
  • Recent pay stubs and W-2s
  • Homebuyer education certificate, if every borrower is a first-time buyer
  • Bank statements for your savings

Step 3: Read the common questions

I owned a home years ago. Can I still get $15,000?

Yes, once, if you meet the service rules and own no other home at closing.

How long after leaving the military can I use this?

You must apply before the 25th anniversary of leaving active service.

Do I have to use a VA loan?

No. FHA, USDA and conventional loans are also allowed with the NC Home Advantage Mortgage.

Other covered jobs

Check if I qualifyCall