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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
2013 Report on Achievements
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.
In 2013, the Agency’s work:
- financed 6,617 affordable homes and apartments
- financed $798.8 million in housing construction, rehab and home sales
- administered rent assistance for 25,696 North Carolina families
- supported 8,745 construction jobs
- produced $46.8 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
Buying a home? We now offer up to 5% down payment help!
Our N.C. Home Advantage Mortgage? offers competitive rates and down payment help up to 5% of the loan amount.
Our Homes for Sale
Our Current Interest Rates
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