NC 1st Home Advantage Down Payment is NCHFA's enhanced DPA option for first-time homebuyers (and military veterans), providing a flat $15,000 in down payment and closing-cost assistance. It is structured as a 0%-interest deferred second mortgage that is forgiven 20% per year in years 11-15, so borrowers who stay in the home for 15 years owe nothing. The program is funded with tax-exempt mortgage revenue bonds and must be paired with the NC Home Advantage Mortgage (NCHFA's bond-funded first mortgage).
Short reads on how it works, in plain language. Free, no sign-up needed to read.
Free course from Hey Prescott
A short, free course on NC 1st Home Advantage Down Payment: what it is, who it is for, when it is repaid, where it applies and how to apply. Based on program data from July 2026. About ten minutes.
5 modules · About 10 minutes
Program details are sourced from public agency data and may change. Confirm eligibility with a Hey Prescott loan officer before applying.