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Millennials make up the largest share of home buyers, low housing inventory and higher home prices are still keeping many out of the market. The NC housing finance agency offers affordable mortgage options statewide to turn these would be buyers into owners. The NC home advantage mortage offers stable fixed rate loans and down payment assistance up to 5% of the loan amount and the NC 1st home advantage down payment assistance provides $8,000 in down payment help to qualified first time buyers. Repayment of both down payment options is required only if the buyer sells, refinances or transfers the home before year 15, the assistance is forgiven at a rate 20% per year starting at the end of year 11. The agency also administers the NC advantage tax credit which saves up to $2,000 per year on federal taxes for first time buyers. This makes home ownership more affordable by freeing up more money to put toward the mortgage. Buyers can combine the NC home advantage tax credit with 5% down payment assistance but not with the $8,000 assistance.