North Carolina Down Payment Assistance
Buying your first home is a big deal—and in today’s market, it can also feel like a big mountain to climb. That’s where the North Carolina Housing Finance Agency (NCHFA) comes in. Their down payment assistance programs are designed to help people just like you take the first step into homeownership with confidence and clarity.
NCHFA is a state-chartered agency that works to make housing more affordable across North Carolina. Since 1973, they've helped thousands of residents overcome financial barriers and achieve homeownership.
The goal? Simple but powerful: to provide affordable home financing solutions that empower first-time homebuyers and support stable communities.
Let’s be real—saving tens of thousands for a down payment isn’t easy. With student loans, rent, and everyday expenses, many first-time buyers just can’t get there on their own.
That’s why NCHFA’s help is a game-changer. It opens the door to homeownership sooner and makes buying less stressful financially.
This program provides eligible buyers with up to 3% of the loan amount in down payment assistance, paired with a competitive fixed-rate mortgage.
Buyers must be purchasing a home in NC, meet income limits (generally under $126,000), and have a credit score of 640+.
If you're a first-time buyer or military veteran, you could qualify for $15,000 in assistance—no joke. This is a second mortgage, but the best kind: no payments unless you sell or refinance within 15 years.
The loan is forgiven at 20% per year starting in year 11—fully forgiven by year 15 if you stay put.
CPLP offers up to $50,000 in down payment assistance in conjunction with a partner loan. It’s ideal for buyers needing extra help.
To access CPLP, buyers work with approved Community Partners across NC, including nonprofits and local governments.
Income caps vary by county and household size but usually top out around $126,000. CPLP may have lower limits.
A 640 FICO score is required for most programs. Exceptions apply with manual underwriting.
Properties must be primary residences, located in NC, and meet purchase price limits. Manufactured homes may qualify under certain rules.
Use NCHFA’s lender search tool to find a trained loan officer who knows the programs inside out.
Pre-approval helps define your budget. Then, you’ll complete a homebuyer education course—required but totally worth it.
Once approved, your lender will help finalize documents, submit your application, and guide you through closing.
Programs drastically reduce your upfront out-of-pocket expenses—making buying a home more realistic and less stressful.
You’re locking in a fixed rate, so your monthly payment stays consistent even when the economy doesn’t.
You don’t need an 800-credit score or a six-figure savings account to qualify. That’s what makes NCHFA so accessible.
A newlywed couple used the NC 1st Home Advantage to get $15,000 in assistance and purchase a starter home they thought was out of reach.
After serving in the military, a veteran returned home and used CPLP funds to buy a house near his children—without draining his savings.
Find someone who knows the NCHFA system and can coach you through each step with clarity.
Don’t rush the training—it gives you practical insights into homeownership responsibilities.
Even with help, it’s smart to prepare for repairs, taxes, and other costs that come with owning a home.
Homeownership is still within reach—and NCHFA proves it. Whether you’re dreaming of a backyard, a cozy porch, or just a place that’s truly yours, down payment assistance can help you get there faster and smarter. If you're a first-time homebuyer in North Carolina, don’t leave these programs on the table.