The dream of homeownership often collides with the reality of the down payment. In the competitive Southeastern North Carolina real estate market—New Hanover, Pender, Onslow, and Brunswick counties—where prices are high, finding a way to close with zero of your own cash down is a game-changer.

The key to achieving “zero down” is not a single magic loan (unless you are military or buying in a rural area), but rather layering an already low-down-payment mortgage with strategic Down Payment Assistance (DPA). Below are the most effective strategies for achieving 100% financing in the coastal market.

1. The True 100% Financing Mortgages (Limited Access)

These are the only loan programs that naturally offer zero down, but they come with eligibility restrictions.

VA Loans (Veterans Only)

• The Benefit: Provides 100% financing with no private mortgage insurance (PMI), lowering the monthly payment compared to other zero-down options.
• Eligibility: Active-duty service members, veterans, and eligible surviving spouses. A major advantage for military families in Onslow County.

USDA Loans (Rural Areas Only)

• The Benefit: Offers 100% financing for low-to-moderate-income buyers in eligible rural areas.
• Eligibility: The home must be in a USDA-approved rural zone—common in parts of Pender, Onslow, and Brunswick—and buyers must meet income limits.

2. The Power of “Layering”: Low Down Payment + DPA (Broad Access)

This is the most practical path for non-military, non-rural homebuyers to achieve zero down. You combine a low-down-payment mortgage with a program that covers that required amount for you.

A. NC Home Advantage Mortgage (NCHFA Programs)

North Carolina’s state-backed assistance programs are the most widely used tools by local buyers.

• How It Works: Provides a competitive first mortgage plus optional DPA covering 3%–5% of the loan amount. The DPA is typically a 0% interest, deferred second mortgage repayable only if you sell or refinance.

The Best Option: NC 1st Home Advantage Down Payment

• Assistance: $15,000 in down payment assistance.
• Forgiveness: Forgiven 20% per year beginning after year 11; fully forgiven after 15 years.
• Eligibility: First-time buyers (no principal residence owned in the last three years) or military veterans.

B. National DPA Options (Chenoa Fund)

• Assistance: Provides 3.5%–5% toward down payment, fully covering the FHA minimum.
• The Benefit: Many options offer forgiveness after a period of on-time payments, effectively converting assistance into a grant.

C. Conventional 97 / FHA Loans + Gift Funds

Gifted funds can satisfy the entire low-down-payment requirement, enabling true zero-cash-to-close.

• FHA Loans (3.5% Down): The full 3.5% can come from a family gift or approved nonprofit.
• Conventional 97 (3% Down): Fannie Mae/Freddie Mac programs allow the full 3% to be gifted or granted.

Aspyre Realty Group: Your Guide to Zero-Down Strategies

In a market defined by rising prices, buying sooner is critical. Zero-down strategies help you enter the market now and start building equity immediately.

At Aspyre Realty Group, we track every rezoning application, monitor new home inventory from national and local builders, and analyze infrastructure plans. We're experts in helping you navigate the real estate market because of this knowledge, and we partner with specialized lenders who can layer DPA and loan programs to make your path to 100% financing possible.