NC 1st Home Advantage: $15,000 for First-Time Buyers & Veterans
NCHFA's NC 1st Home Advantage gives first-time buyers and military veterans a flat $15,000 toward a home, and it can be forgiven entirely. Here is who qualifies and how the $15,000 works.
What NC 1st Home Advantage is
NC 1st Home Advantage is the larger of North Carolina’s two down payment options, a flat $15,000 rather than a percentage. It is built for first-time buyers and for military veterans, and the veteran path is the important twist: a veteran does not have to be a first-time buyer to take the $15,000. It works with an NC Home Advantage first mortgage (FHA, VA, USDA, or conventional), requires a 640 credit score, and comes as a zero-percent deferred second with no monthly payment. On most North Carolina price points, $15,000 beats the 3% option.
Who qualifies for the $15,000
Two groups. First-time buyers, defined as not having owned a primary home in the last three years, qualify. And military veterans qualify regardless of first-time status, so a veteran who owned a home during a prior assignment can still take the $15,000. Both groups need a 640 credit score and income under NCHFA’s statewide limit. For a first-time buyer or a veteran, this is usually the strongest assistance North Carolina offers, especially near a base like Fort Liberty in Fayetteville.
The $15,000 can be forgiven entirely
The best part is that the $15,000 is not necessarily money you pay back. It sits behind your first mortgage with no payment for ten years, then forgives 20% a year through year 15. Keep the home 15 years and the full $15,000 is forgiven, you never repay a dollar. Sell or refinance before year 11 and you repay it in full; between years 11 and 15 the payoff shrinks as it forgives. For a buyer planting roots, that is real money that can simply disappear. See the schedule on our forgiveness page.
Verified August 2026 against NCHFA. This is not a commitment to lend. Related: 3% vs. $15,000 · DPA + VA (veterans).
Common questions
What is NC 1st Home Advantage?
NC 1st Home Advantage is NCHFA's flat $15,000 down payment assistance for first-time buyers and military veterans. It is a 0% deferred second with no monthly payment, forgiven 20% per year in years 11-15, used with an NC Home Advantage first mortgage.
Do veterans have to be first-time buyers for the $15,000?
No. Eligible military veterans qualify for the NC 1st Home Advantage $15,000 regardless of first-time status, so a veteran who owned a home before can still take it. First-time buyers (no primary-home ownership in three years) also qualify.
Is the NC $15,000 down payment assistance forgivable?
Yes. It has no payment for ten years, then forgives 20% per year in years 11 through 15, fully forgiven at 15 years. You repay it only if you sell or refinance before year 11.
See if the $15,000 fits you
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