What NCHFA is
The North Carolina Housing Finance Agency is the state's housing finance agency. Its homebuyer side offers mortgage products paired with down-payment assistance, delivered through participating lenders rather than by the agency itself. If a lender doesn't participate, that's a reason to talk to another lender, not a reason the program is unavailable.
Three programs, verified directly at the source
NCHFA revises its products, rates, and assistance amounts regularly, so the figures below are dated: verified directly at nchfa.com on August 15, 2026, not copied from a third-party site. A buyer qualifies for one of these, by eligibility — not by which figure is larger:
- NC 1st Home Advantage Down Payment — $15,000 flat. First-time buyers and military veterans only.
- NC Home Advantage Mortgage — down payment assistance up to 3% of the loan amount. Broader eligibility, not limited to first-time buyers or veterans.
- Community Partners Loan Pool — up to 25% of the sales price, capped at $50,000. A different calculation base than the other two (price, not loan amount), and only available where a partnering local agency operates.
All three are structured as 0% interest, deferred second mortgages — not grants. Confirm exact eligibility, whether a partner agency covers Perquimans County, and current terms with a participating lender before relying on any figure; NCHFA can and does revise them.
Perquimans County NCHFA Down Payment Assistance Estimator
See your estimated monthly payment plus how NC 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. Uses the Perquimans County ad valorem rate only (no municipal or fire-district add-on).
| Program | What You Get | Who Qualifies | Structure |
|---|---|---|---|
| NC 1st Home Advantage | $15,000 flat | First-time buyers or veterans only | 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 only | Terms set by partner agency |
How this fits a county where USDA already works everywhere
Here's the piece specific to Perquimans County, and it's genuinely useful. The entire county sits inside a USDA-eligible rural area, so a Section 502 Guaranteed loan already offers 100% financing to buyers who meet the income test (details here). That changes the calculus on down-payment assistance in two directions:
- If USDA works, the down payment is already zero, and what assistance can still do is help with closing costs — which in this county include a 1% local land transfer tax on top of the state excise tax. Zero down is a statement about the loan, not about the cash brought to the table, and that's where assistance earns its keep here.
- If USDA doesn't work — because household income runs over the limit, or because the property won't meet USDA condition standards, which happens with older rural stock — then FHA or conventional plus NCHFA assistance becomes the path, and the down payment is back to being the question.
Which of those applies is a fifteen-minute conversation with a lender, and it determines what's worth touring. Have it before house-hunting starts, not after.
Three things that catch people here
- Assistance programs have their own income and price limits, separate from the loan's. Meeting one doesn't mean meeting the other.
- Most assistance is a second lien with its own terms — forgivable, deferred, or repayable depending on the product and the year. Ask specifically what happens if you sell or refinance in year three, because the answer differs by product and isn't always the answer people assume.
- Older housing stock is the friction point in this county, not the paperwork. A house that won't pass a condition standard is a house that won't close on that program, regardless of how well the assistance fits. Get an inspector who knows old buildings, and see Chapter 3.
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 is most likely to apply, and how it interacts with USDA eligibility here, before you talk to a lender.
The rest of the stack
Down payment assistance is one piece. The others, all county-specific: the FHA limit (the highest in North Carolina, and not a constraint anyone here will hit), countywide USDA eligibility, the 1% land transfer tax, property tax that doubles inside town limits, and flood insurance with no Community Rating System discount available. The financing page puts them together in a working order.
Frequently asked questions
How much down payment assistance does NCHFA offer?
Three programs, verified directly at nchfa.com as of August 15, 2026. NC 1st Home Advantage Down Payment provides $15,000 flat, for first-time buyers and military veterans only. NC Home Advantage Mortgage offers down payment assistance up to 3% of the loan amount, open to a broader pool of buyers. Community Partners Loan Pool offers up to 25% of the sales price (not the loan amount), capped at $50,000, delivered through a partnering local agency rather than statewide. All three are structured as 0% interest, deferred second mortgages — not grants. A buyer qualifies for one, based on eligibility, not by which figure is larger.
Why does USDA eligibility change how this assistance is used?
Perquimans County sits entirely inside a USDA-eligible rural area, so a Section 502 Guaranteed loan already offers zero-down financing to buyers who meet the income test. If USDA works for a buyer, the down payment is already zero — so NCHFA assistance is more useful covering closing costs, which in this county include a 1% local land transfer tax on top of the state excise tax. If USDA doesn't work — income over the limit, or a property that won't meet USDA condition standards — then FHA or conventional plus NCHFA assistance becomes the path, and the down payment is the real question again.
What are the income and sales price limits for these programs?
Not stated on this page. NCHFA sets income and sales-price limits separately from the assistance amounts themselves, and no current figure for this county has been independently verified for this build — copying a stale limit from a third-party source risks wasting a buyer's time on a program they don't actually qualify for. Confirm current limits, and whether a Community Partners agency covers Perquimans County, with a participating NCHFA lender.
Do I have to repay the assistance?
Most NCHFA assistance rides as a second lien with its own terms — forgivable, deferred, or repayable depending on the product and the year. Ask specifically what happens if you sell or refinance in year three; the answer differs by program and isn't always what buyers assume. Confirm the specific repayment terms with NCHFA or a participating lender before relying on this program.
What's the biggest thing that trips people up with this assistance in Perquimans County?
Older housing stock, not the paperwork. A house that won't pass a program's condition standard is a house that won't close on that program, regardless of how well the down-payment assistance fits. Get an inspector who knows old buildings before relying on any figure here.