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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 and marketing materials, 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 eligible first-time buyers and 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.