The N.C. Housing Finance Agency’s (NCHFA) mission is to create
affordable housing opportunities for North Carolinians
whose needs are not met by the market. The NCHFA is a self-supporting public agency that provides financing through the sale of tax-exempt bonds and management of
federal and state tax credit programs, the federal HOME Program, the state
Housing Trust Fund, and other programs.
The Agency offers low-cost mortgages such as the NC Home Advantage Mortgage,
finances the development of affordable apartments and homes, and special-needs
housing, finances rehab and emergency repairs of owner-occupied homes, and
offers foreclosure prevention assistance. Since its 1973 creation by the
General Assembly, the Agency has financed 231,400 affordable homes and
apartments, totaling $16 billion.
How NCHFA can help with your home purchase:
The North Carolina
Housing Finance Agency uses a program called the NC Home Advantage Mortgage Loan to make home ownership affordable for eligible home
buyers whether buying for the first time or moving up. The NC Home Advantage Mortgage offers competitive financing and forgivable down
NCHFA does not make the loan directly to the borrower. Once you have decided to purchase, you will need to apply for the NC Home Advantage Mortgage Program through a participating Lender.
There are several different loan assistance options for borrowers to choose from which includes...
NC Home Advantage RATE ONLY option - Provides borrower a below market interest rate. NOTE: This can NOT be used with NCHFA's down payment assistance option. More info...
3% down payment assistance - Provides 3% of purchase price to be used for borrower's down payment, closing costs or pre-paids.More info...
5% down payment assistance - Provides 5% of purchase price to be used for borrower's down payment, closing costs or pre-paids. More info...
First-time home buyers may also qualify for a Mortgage
Credit Certificate better known as the MCC credit, which can reduce your federal taxes by up to $2,000 for
every year you live in your home. *Rates vary for each option.