Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15 – the down payment assistance is forgiven at 20% per year at the end of years 11–15, with complete forgiveness at the end of year 15.
Program Highlights:
- Down payment assistance up to 3% of the loan amount
- Opportunity to add the NC 1st Home Advantage Down Payment, a $15,000 down payment assistance option
- Income cannot exceed $140,000
- Purchases in North Carolina
- Must qualify for FHA, USDA, VA or conventional loan and meet the sales price limits of the loan type