More North Carolinians Now Eligible for Affordable Mortgages and $15K Down Payment Assistance 

The NC Housing Finance Agency is working to make home buying more attainable by increasing its income and sales price limits for its affordable mortgage products. Thanks to these changes, eligible first-time and move-up home buyers making up to $158,000 may now benefit from the NC Home Advantage Mortgage™ with up to 3% down payment assistance.

Income limits also increased for the Agency’s NC 1st Home Advantage Down Payment, which offers $15,000 in down payment assistance for eligible first-time buyers and military veterans. The sales price limit for a home purchased under the NC Home Advantage Mortgage™ umbrella is now $525,000.

“The NC Home Advantage Mortgage™ has helped thousands of North Carolinians buy homes each year,” said Scott Farmer, executive director of the NC Housing Finance Agency. “Raising our income and sales price limits will open the door for more home buyers across the state, even in a challenging market.”

The NC Home Advantage Mortgage™  is available through a statewide network of participating lenders and can be used to purchase single-family homes, townhomes, condominiums, duplexes and new manufactured homes. To be eligible, buyers must:

• Purchase a home in North Carolina. 

• Occupy and retain the home as a primary residence. 

• Have an income not exceeding $158,000 (income limits for the NC 1st Home Advantage Down Payment vary by county and family size). 

• Have credit scores of 640 or higher. 

• Be applying for an FHA, USDA, VA or conventional loan through a participating lender. 

• Meet the sales price limit of the loan type or program. 

• Be a legal resident of the United States. 

• Be a first-time buyer or military veteran if applying for the NC 1st Home Advantage Down Payment. 

The NC Housing Finance Agency helped 5,140 North Carolinians purchase affordable homes in 2025 and generated $19.6 million in state and local tax revenue from investments in newly constructed affordable homes.

Consumers should visit www.NCHomeAdvantage.com to learn more and find a local participating lender.