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About Us

The North Carolina Housing Finance Agency is a self-supporting public agency. The Agency’s mission is to create affordable housing opportunities for North Carolinians whose needs are not met by the market. Since its creation in 1973 by the General Assembly, the Agency has financed more than 231,400 affordable homes and apartments, totaling $16 billion.

The Agency provides financing through the sale of tax-exempt bonds and management of federal tax credit programs, the federal HOME Program, the state Housing Trust Fund, and other programs.

What we offer

Using these resources and its own earnings, the Agency:

  • offers low-cost mortgages and downpayment assistance for qualified home buyers
  • finances affordable homes and apartments developed by local governments, nonprofit organizations, and private owners
  • finances the development of housing for people with special needs
  • finances the rehabilitation of substandard owner-occupied homes
  • offers foreclosure prevention assistance in partnership with HUD-approved housing counseling agencies statewide
  • administers HUD rent assistance contracts for 25,000 privately owned apartments statewide.

Summary of N.C. Housing Finance Agency Programs

2014 Report on Achievements

Our operations

The Agency’s operations are overseen by a geographically diverse 13-member Board of Directors. The Governor, President of the state Senate, and Speaker of the state House of Representatives each appoint four members, and these 12 members elect a thirteenth. The Board of Directors appoints the Agency’s Executive Director, subject to approval by the Governor; and the Executive Director hires all staff. The Agency’s statute describes its board composition, general powers, program authority, and financing capability.

The Agency reports its budget through the Office of State Budget and Management in the Governor’s Office. Its financial accounts are audited annually by an independent auditing firm. The Agency’s bonds are rated AA by Standard and Poor’s and Aa2 by Moody’s.

Measurable results

In 2014, the Agency’s work:

  • financed 9,500 affordable homes and apartments
  • financed $1.1 billion in housing construction, rehab and home sales
  • administered rent assistance for 25,730 North Carolina families
  • supported 12,800 construction jobs
  • produced $66.8 million of state and local tax revenues
  • kept its operating expenses to below 2% of the real estate activity it leveraged.

Where the money comes from

The following fact sheets describe the financing that the North Carolina Housing Finance Agency uses to create affordable housing opportunities across the state.

Facts on the Mortgage Revenue Bond Program

Facts on the Federal Low-Income Housing Tax Credit Program

Facts on the State Housing Credit

Facts on the Federal HOME Program

Facts on the Housing Trust Fund

       For Your Home:


For a 30-year fixed-rate (minimum 60-day lock-in). Need down payment help? N.C. Home Advantage Mortgage™ offers up to 5% at zero interest. Check rates.


       What's New @ NCHFA

Supportive Housing Funds Available
The N.C. Housing Finance Agency is accepting applications for the 2016 Supportive Housing Development Program.
Learn More...

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North Carolina Housing Finance Agency   |   3508 Bush Street   |   Raleigh, NC 27609   |   919-877-5700  |   terms of use/privacy