What NCHFA offers
The North Carolina Housing Finance Agency (NCHFA) runs down payment programs that layer on top of a first mortgage rather than replacing it:
- NC 1st Home Advantage Down Payment — $15,000. Available to eligible first-time buyers (generally meaning you haven't owned a home in the past three years) and veterans, structured as a 0% interest, deferred second mortgage — deferred for the first 10 years, then forgiven at 20% a year across years 11 through 15, with no monthly payment due on the assistance itself.
- NC Home Advantage Mortgage down payment assistance — 3% of the loan amount. A separate track open to a broader range of buyers, not limited to first-time purchasers. It can't be combined with the $15,000.
- Community Partners Loan Pool — up to 25% of the sales price, capped at $50,000. Note this program is calculated off the sales price, not the loan amount — a genuinely different base from the other two programs. It's offered through partnering local agencies, so availability depends on working with a participating partner in your area rather than being open statewide the way the other two are. It can be combined with either the 3% or the $15,000.
The Mortgage Credit Certificate is no longer offered
No longer offered: NCHFA lists the Mortgage Credit Certificate as no longer an active program (NC Home Advantage Mortgage Program Guide, July 2026). Earlier versions of financing guidance that reference an active MCC option (the NC Home Advantage Tax Credit) are out of date.
Hyde County NCHFA Down Payment Assistance Estimator
See your estimated monthly payment plus how NCHFA down payment assistance 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. Using the Hyde County ad valorem rate (no municipal add-on — the county has no incorporated town of significant size). Insurance in a low-elevation, high-water county like Hyde can run well above this rule-of-thumb figure once NFIP flood premiums and NCIUA Beach Plan wind/hail coverage are added — see Chapter 4, Flood, Wind & Insurance Reality.
| Program | What You Get | Who Qualifies | Forgiveness |
|---|---|---|---|
| NC 1st Home Advantage | $15,000 flat | First-time buyers or veterans | Forgiven 20% a year, years 11–15 |
| NC Home Advantage Mortgage | Up to 3% of loan amount as DPA | Broader buyer pool, including move-up buyers | Forgiven 20% a year, years 11–15 |
| Community Partners Loan Pool (CPLP) | Up to 25% of price (capped $50K) | Partner-agency territory, income-eligible | Not forgiven (0%, deferred; terms set by NCHFA) |
| NC Home Advantage Tax Credit (MCC) | No longer offered | No longer offered | No longer offered |
Targeted census tracts in Hyde County
NCHFA publishes a list of "targeted census tracts." Buying in one waives only the first-time-buyer rule for the $15,000 (the buyer can own no other property at closing); the amount is the same $15,000, and the income, price and credit limits still apply. As of October 25, 2026, NCHFA's list names no tracts in Hyde County.
Check the current list
NCHFA updates the list and has no lookup tool. To check an address, find its census tract on the FFIEC geocoder and compare it with NCHFA's targeted tract list; the tract number must match exactly.
Stacking NCHFA with your first mortgage
NCHFA down payment assistance is typically designed to stack on top of a qualifying first mortgage — USDA Guaranteed, FHA, or conventional. Whichever loan program fits your income and the property, NCHFA assistance can help cover the down payment and closing costs on top of it:
- See Hyde USDA Eligibility for what USDA's map shows: no ineligible area in Hyde County.
- See Hyde FHA Loan Limits for a 3.5%-down option with no income cap and no geographic eligibility test.
- For the sequencing questions unique to Hyde County — insurance-first underwriting, land loans in low-elevation ground, and lodge/hunt-property financing — see the Underwriting Remote financing guide.
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.
Frequently asked questions
How much down payment assistance does NCHFA offer?
Eligible first-time buyers and veterans can receive a fixed $15,000 through the NC 1st Home Advantage Down Payment, structured as a 0% forgivable second mortgage (a loan, not a grant), forgiven 20% a year at the end of years 11 through 15. The standard NC Home Advantage Mortgage program offers a separate down payment assistance option of up to 3% of the loan amount, open to a broader range of buyers; the 3% and the $15,000 can't be combined with each other. A third program, the Community Partners Loan Pool, offers up to 25% of the sales price (capped at $50,000) through a partnering local agency, and it can be combined with either of the other two. The program you qualify for depends on your buyer status, your income, and whether a participating partner agency serves the property.
Is the Mortgage Credit Certificate (MCC) still available?
No longer offered: NCHFA lists the Mortgage Credit Certificate as no longer an active program (NC Home Advantage Mortgage Program Guide, July 2026). Verified as of 2026-10-25.
Is my Hyde County property in a targeted census tract?
NCHFA publishes a list of targeted census tracts, and as of October 25, 2026 that list names no tracts in Hyde County. NCHFA has no lookup tool: an address's tract is found on the FFIEC geocoder (geomap.ffiec.gov) and must match the list exactly. A targeted tract only waives the first-time-buyer rule for the $15,000; the amount and the income, price and credit limits stay the same.
Can I combine NCHFA assistance with a USDA or FHA loan?
Yes. NCHFA down payment assistance is typically designed to stack on top of a first mortgage — including USDA Guaranteed, FHA, and conventional loans. See our USDA and FHA pages for details on those first-mortgage options in Hyde County.
Do I have to repay the NCHFA down payment assistance?
The NC 1st Home Advantage Down Payment is structured as a deferred, 0% interest second mortgage that is gradually forgiven — deferred for the first 10 years, then forgiven in increments of 20% a year across years 11 through 15, with no monthly payment due in the meantime. Confirm the specific repayment and forgiveness terms with NCHFA or a participating lender before relying on this program.