Through the Self-Help Loan Pool (SHLP) program, the NC Housing Finance Agency offers up to $35,000 in mortgage financing to assist eligible buyers purchase homes built or rehabilitated by a SHLP Member, which usually is a local NC Habitat for Humanity affiliate.
The SHLP Member provides mortgage financing that is combined with NCHFA funds to provide a single, affordable mortgage that typically is structured as a 0%, amortizing loan with a term from 20-33 years. The home buyer makes their mortgage payment to the SHLP Member (or their designated Loan Servicer) who is responsible for sending the pro-rata share of the payment to NCHFA.
Eligible Home Buyers:
To be eligible for SHLP funding, a home buyer must already be a participant in a self-help housing program (i.e. helping with the construction or rehab of the house they are buying) as well as meet SHLP program guidelines, which include:
- Household income at or below 80% of the Area Median Income
- Completed a minimum of 8.0 hours of home buyer education and/or home ownership counseling
- Buyers must be purchasing a new or rehabilitated home from a SHLP Member that is less than the maximum sales price limit for the county
Interested home buyers should contact a SHLP Member for additional information.
SHLP members are responsible for identifying eligible home buyers, ensuring the home buyer(s) receive at least 8 hours of home buyer education and counseling, submitting the SHLP loan application with required documentation, and coordinating the loan closing. In exchange for these services, NCHFA pays the Member a $1,200 service fee for each SHLP loan closed.
In addition, SHLP Members that develop homes certified under SystemVision™ or other approved Green Building Standards may be eligible to receive the following fees:
- Up to $4,500 for meeting SystemVision™ for New Home standards
- Up to $6,000 for meeting SystemVision™ for Existing Home standards
- $1,000 for meeting any of the five Agency approved Green Building standards
Self-help housing organizations interested in learning more about becoming a SHLP Member should contact Josh Burton, Team Leader for Home Ownership Development (919-877-5678 or email@example.com) for more information including the application process.