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How to Become a Participating Lender
If you’ve come to this page, you’re on track to help fellow North Carolinians attain the dream of owning a home.
It isn’t difficult to become a participating lender. You just need to meet these requirements:
- Be approved as an FHA mortgage originator (if originating FHA loans); approved as a VA mortgage originator (if originating VA loans); approved as a USDA mortgage originator (if originating USDA loans); or approved as a Fannie Mae or Freddie Mac seller/servicer in good standing (if originating conventional loans).
- Have an office in North Carolina that has originated mortgages for at least one year.
- Originate, process, underwrite, close, and fund the loan.
- Be in compliance with federal banking laws concerning minimum capital requirements.
- Have not violated federal banking regulations and thus not be undergoing enforcement proceedings of federal regulators.
- Have a net company asset worth of at least $250,000.
- Execute a Master Mortgage Loan Origination and Sale Agreement with the North Carolina Housing Finance Agency.
- Complete a lender training session with Agency staff.
You’ll also need to sign an agreement. We’ll respond to your application within 10 business days.
We have two homeownership programs: the FirstHome Mortgage (also known as the Mortgage Revenue Bond or MRB mortgage) and the Mortgage Credit Certificate (MCC). Each program has a guide that details the requirements for lenders:
Mortgage Revenue Bond (MRB) Originator's Guide, Section 4: Participating Lenders
Mortgage Credit Certificate (MCC) Program Originator's Guide, Section 4: Participating Lenders
To apply to become a participating lender, contact Cle Newsom at cnewsom@nchfa.com or (919) 877-5674 for an application package.
You also have the option of filling out our online form and sending it in to us.
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For Your First Home:
6.125%
for a 30-year, fixed-rate conventional mortgage with a 90-day lock in.
More Interest Rates...
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