North Carolina Housing Finance Agency (NCHFA)

Highlights of the North Carolina Housing Financing Agency (NCHFA):

  • Finances affordable housing for low-income homebuyers
  • Down payment assistance is available
  • No first-time home buyer restrictions

What is the North Carolina Housing Finance Agency?

The North Carolina Housing Finance Agency (NCHFA) is a self-supported public agency created in 1973 that finances affordable housing options for the residents of North Carolina whose needs are not generally met by the market.

The Agency offers low-cost mortgages and finance assistance and administers housing programs such as N.C. Home Advantage Mortgage TM, down payment assistance, and supportive housing for low-income families, people with special needs, and other qualified buyers. NCHFA also provides HUD rent assistance and offers foreclosure prevention through the management of the NC Foreclosure Prevention Fund.

How does the NCHFA work?

The NCHFA manages tax credit programs, the federal HOME Program, and the state Housing Trust Fund, sells tax-exempt bonds, and uses federal and state funds to provide financing and partner with local governments, nonprofit housing producers, and for-profit developers to create affordable forms of housing. These finances are used to build rental homes/ apartments, finance affordable home mortgages for qualified customers, improve and restore both rental and owner-occupied housing, and to overall assist home buyers. These loans, specifically the N.C. Home Advantage Mortgage TM, are securitized and sold on the secondary market and offer market interest rates.

You will benefit from the NCHFA programs if you:
  • Have housing needs that are not met by the market
  • Need down payment assistance
  • Require a low-cost mortgage

For more detailed information about NCHFA please visit their website here.

Grants may be subject to the following: Income or income ratio restrictions may apply. Geographic location restrictions may apply. Loan product may be subject to grant terms. Homestead Funding Corp. does not award grant money or make the decisions about who receives grant funds. This is merely provided for informational purposes in order for potential borrowers to contact grantees.