NC Home Advantage Mortgage Program This North Carolina down payment program is for a first time home buyer (or a move up buyer) in North Carolina has annual income under $85,000 and a credit score above 640 they will be eligible for the Home Advantage Mortgage. This first mortgage loan is paired with North Carolina down payment assistance. Current loan terms are 30 year fixed rate mortgages with zero discount points and 1 percent origination fee. The North Carolina down payment and closing costs assistance is an interest free deferred and forgivable second mortgage loan which can amount to up to 5 percent of the first mortgage amount. Repayment of the North Carolina down payment assistance is only required if a North Carolina borrower vacates the home within 15 years.