North Carolina offers three down-payment assistance programs most Martin County buyers should know about: NC 1st Home Advantage, NC Home Advantage Mortgage, and the Community Partners Loan Pool. None of them replace your primary mortgage — all three stack on top of USDA, FHA, VA, or conventional financing.
NC 1st Home Advantage
- What it is: a 0% deferred second mortgage — no monthly payment — that provides down-payment and closing-cost assistance.
- Amount: a flat $15,000.
- Forgiveness: the assistance is forgiven at a rate of 20% per year over years 11–15 of residence, provided the borrower doesn't sell, refinance, or vacate the home first.
NC Home Advantage Mortgage
- What it is: a companion first mortgage program whose down-payment assistance is a separate, 0% deferred second mortgage, sized to the loan itself rather than a flat figure.
- Amount: up to 3% of the loan amount.
- Eligibility: broader than the flat program above — worth checking even if you don't qualify as a first-time buyer.
Community Partners Loan Pool — a third option, through a local partner agency
The Community Partners Loan Pool offers up to 25% of the sales price, capped at $50,000 — a genuinely larger figure than the other two programs, but it runs through a specific partnering local agency rather than being available to every buyer statewide. Ask a participating NCHFA lender whether a Community Partners Loan Pool agency operates in Martin County before counting on this option.
Martin County NCHFA Down Payment Assistance Estimator
See your estimated monthly payment plus how one of three real down-payment assistance programs reduces your actual cash to close.
NC Down-Payment Assistance
These are three separate programs — a buyer qualifies for one, based on eligibility (first-time-buyer/veteran status, household income, or working with a specific partner agency), not on which number is larger. NC Home Advantage Mortgage and NC 1st Home Advantage are 0%, deferred second mortgages, not grants — repayment can become due under certain conditions, such as selling or refinancing. Community Partners Loan Pool terms are set by the partnering local agency. Confirm your household's exact eligibility and current terms with a participating lender.
*Illustrative only. Verify all figures with a lender before relying on them.
| Program | What You Get | Who Qualifies | Forgiveness |
|---|---|---|---|
| NC 1st Home Advantage | $15,000 flat | First-time buyers or veterans | 0% deferred second mortgage |
| NC Home Advantage Mortgage | Up to 3% of loan amount as DPA | Broader buyer pool, not limited to first-time | 0% deferred second mortgage |
| Community Partners Loan Pool (CPLP) | Up to 25% of price (capped $50K) | Partner-agency territory, income-eligible | Terms set by partner agency |
| NC Home Advantage Tax Credit (MCC) | Annual federal tax credit on mortgage interest | Currently suspended — funds exhausted ~June 2025 | N/A — credit, not a loan |
Eligibility basics
| First-time buyer requirement | Generally required for NC 1st Home Advantage and NC Home Advantage Mortgage, waived for qualifying veterans; Community Partners Loan Pool eligibility is set by the partner agency |
|---|---|
| Income limits | Set by county and household size |
| Purchase price limits | Set statewide/regionally — rarely a constraint given Martin County's pricing |
| Homebuyer education | Required for most NCHFA-assisted loans |
These figures change periodically.
Have a specific address in mind?
Travis will check which NCHFA track fits your scenario.
Send the address and a little about your situation, and Travis will flag which of the three NCHFA programs you're most likely to qualify for before you talk to a lender.
FAQs
Is NCHFA assistance available in Martin County?
Yes — these down-payment assistance programs (NC 1st Home Advantage, NC Home Advantage Mortgage, and the Community Partners Loan Pool) are available to eligible buyers anywhere in North Carolina, including Martin County, though the Community Partners Loan Pool is limited to partner-agency territory.
Which of the three programs applies to me?
Eligibility, not the dollar amount, decides it. NC 1st Home Advantage ($15,000 flat) and NC Home Advantage Mortgage (up to 3% of the loan amount) are both aimed mainly at first-time buyers and veterans; the Community Partners Loan Pool (up to 25% of the sales price, max $50,000) runs through a specific local partner agency. A buyer qualifies for one, not a stack of all three — confirm with a participating lender which program fits your situation.
Can this assistance be combined with USDA or FHA?
Yes. These down-payment assistance programs are designed to layer on top of a primary mortgage — USDA, FHA, VA, or conventional — not replace it. Eligibility rules (income limits, first-time buyer status in most cases, purchase price limits) apply on top of your primary loan program's own requirements.
What happened to the Mortgage Credit Certificate (MCC)?
The NC Home Advantage Tax Credit (Mortgage Credit Certificate) — a federal tax credit against mortgage interest paid — is not currently a program to plan around. Currently suspended — NCHFA exhausted allocated funds around June 2025. The agency periodically receives new allocations that could restore it; confirm current status with NCHFA before advising a buyer to plan around it. Verified as of 2026-08-16.
Is this financial advice?
No. This page is general information. Program terms, assistance amounts, and eligibility rules are set by the North Carolina Housing Finance Agency and its partner agencies, and can change.