Homeownership Production

- New Homes

- Self-Help

- SystemVision

- IDA Loan Pool

- Mortgages for First-Time Home Buyers

Home Repair and Rehabilitation

Home Protection Program

Supportive Housing Development

Rental Housing Production Program

Homelessness Prevention

Becoming a CHDO

Housing-Related Counseling

Resources and Recognition

New Homes Loan Pool

The North Carolina Housing Finance Agency's New Homes Loan Pool is available to nonprofit and government organizations that select and prepare home buyers, coordinate financing assistance for buyers, and either develop affordable homes or partner with local builders.

“New Homes” provides gap financing through deferred, interest-free second mortgages of up to $25,000 per home. The assistance is targeted to home buyers with incomes below 80% of the area median income.

The homes financed by the New Homes Loan Pool can be located in:

• new subdivisions,
• scattered rural sites,
• comprehensive neighborhood revitalization areas, or
• strategic in-fill developments.

For services rendered in preparing the buyer and closing the New Homes loan, the Loan Pool Member is paid $1,000. If the houses they sell meet certain advanced performance standards, Members can receive a construction subsidy of $4,000 under the SystemVision energy guarantee option.

Organizations first seek Loan Pool Membership, then apply for approval of specific homeownership projects by completing an Application for Project Approval. For more information, see the Guidelines for Loan Pool Membership.

Once approved, the Loan Pool Member serves as a liaison between the North Carolina Housing Finance Agency and the home buyer, reserving loan funds and submitting a loan application on the buyer's behalf.

Home buyers who borrow through the New Homes Loan Pool must complete a home buyer education course, and most must receive one-on-one homeownership counseling. Loan Pool Members can either offer the education themselves or partner with a counseling organization in the community. For information on training for counselors, go to Workshops and Technical Assistance.

Members of the New Homes Loan Pool