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Lenders

The North Carolina Housing Finance Agency works with participating lenders throughout the state to provide affordable mortgage options for first-time and move-up buyers. Our products can help you increase your loan volume and make a difference in your community. We offer all the resources you need, including training, to help you get started. Learn more about our mortgage products and apply to become a participating lender. If you’re already a partner, you can manage your loans through our Online Lender Services (OLS) system. 

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Train With Us

We offer online and in-person training for participating lenders. Join us at an upcoming class to learn more about our mortgage products!

  • NC Home Advantage Tax Credit

    Participating lenders can offer the NC Home Advantage Tax Credit, which allows first-time buyers and qualified military veterans to reduce their federal income tax by up to $2,000 a year if they apply and are approved by us for a Mortgage Credit Certificate (MCC) prior to their home purchase.

  • Q:

    We will not be able to have the loan purchased by the Master Servicer by the Lock-In Expiration Date. What do I do?

    A:

    All loans must be closed, delivered and purchased by the Master Servicer by the Lock-In Expiration Date. If the loan is not able to be purchased by the Master Servicer by the Lock-In Expiration Date, the lender may request an extension via OLS, and the loan will be subject to extension fees. See Section 9 of Program Manual for details.

  • Q:

    For a conventional loan, what MI coverages are required under the Fannie Mae HFA Preferred program used by NC Home Advantage Mortgage™?

    A:

    The required coverage for Fannie Mae’s HFA Preferred product used for NC Home Advantage Mortgage™ conventional loans are as follows based on Loan to Value. 18% (95.01%-97%), 16% (90.01-95%), 12% (85.01% - 90%), 6% (80.01 -85%).

  • Q:

    My borrower is using the NC Home Advantage Mortgage™. How do I calculate the down payment assistance (DPA) loan amount?

    A:

    Once you determine the loan amount for your borrower, calculate the DPA by multiplying the first mortgage loan amount by 3% if it is a conventional loan or by either 3% or 5% if it is an FHA, VA or USDA loan, depending on which DPA option is selected.  For example, if your sales price is $135,000, and your first mortgage amount is $130,000 for a conventional loan, eligible for a 3% DPA, then your DPA amount is $3,900 (3% of $130,000).  If your loan amount changes, your DPA will be adjusted accordingly so that it does not exceed 3% of the loan amount for a conventional loan or either 3% or 5

  • Q:

    My borrower is currently locked in for an NC Home Advantage Mortgage™ loan using an FHA-insured loan but wants to change the loan type to USDA. Can I do that and keep the same interest rate and expiration date?

    A:

    If borrowers change loan program types between FHA, USDA, VA and conventional loans, the original lock-in interest rate and expiration date still applies.

  • Q:

    If borrowers decide not to buy a property for which a rate has been locked, can they retain their old interest rate lock and lock-in expiration date for a different property?

    A:

    Borrowers may be allowed to re-lock at their original rate if the original property has changed and verification of changed property is provided. If market rates have changed since the initial lock-in, it is possible that they may be expected to lock-in a new rate for their new property.