NC Housing Finance Agency Helps Veterans Become Long-Term Homeowners

Madison Fisler Lewis
veteran and family

For military veterans in North Carolina, long-term financial stability is a key goal. After years of moving around during their service in the military, many veterans hope to finally settle down and put down roots. The NC Housing Finance Agency is committed to providing resources for military veterans in North Carolina to help them not only buy homes, but remain in them for the long term. Read on to learn how the Agency can help make home happen for North Carolina’s veterans.

Affordable Home Ownership Programs
The Agency’s home ownership products can help make home ownership a reality for North Carolina’s veterans. The NC Home Advantage Mortgage™ offers down payment assistance that can help relieve the stress of saving up for a down payment. This mortgage option provides down payment assistance of up to 5% of the loan amount and can be structured as a conventional, FHA, USDA or a VA loan type, so veterans have the flexibility to use the mortgage type that works best for them.

Foreclosure Prevention Assistance
Unfortunately for many veterans, the transition from military service to civilian life can be a financial struggle. For veterans who already own their home but are concerned about losing it during the transition to a civilian career, the NC Foreclosure Prevention Fund offers zero-interest, deferred loans of  $36,000 for 36 months to pay the mortgage while the veteran searches for a new civilian job or retrains for a new career. The funds for the NC Foreclosure Prevention Fund are provided by the US Department of the Treasury’s Hardest Hit Fund through HUD-approved counseling agencies statewide.

Accessibility Modifications and Urgent Repair

For homeowners who have a disability or who are aging in place, the Agency also offers accessibility modifications and urgent repair programs to ensure that the home is safe for the veteran to live in. Veterans who need these services and who meet certain income limits and other requirements can seek assistance through local community partners statewide.

The NC Housing Finance Agency is committed to helping military veterans statewide purchase homes they can afford, stay in their homes during transition and live in their homes safely and comfortably as they age. For more information about the many programs that the NC Housing Finance Agency offers veterans in North Carolina, visit www.nchfa.com.

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North Carolina Housing Finance Agency / 3508 Bush Street / Raleigh, NC 27609 / 919-877-5700

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