Home Ownership
Our Investments Help North Carolinians
Afford to Buy and Stay in Their Homes
Home ownership investments by the North Carolina Housing Finance Agency in 2024 helped 5,880 North Carolinians become homeowners.
Gattis Court, a unique, first-of-its-kind development used funding from our Community Partners Loan Pool to turn a dilapidated house on donated land into two duplexes, providing new home ownership opportunities for families in Chapel Hill and preserving the diverse, family-friendly and historically Black Northside Neighborhood.
Our Impact in 2024
5,880
$1.5 Billion
$1.38 Billion
Mortgage Products
In 2024, buyers trying to purchase their first home faced major financial obstacles, including rising home prices and mortgage rates, that made North Carolina’s housing market difficult to navigate. With more than $1.38 billion in financing through our statewide network of lending partners, the Agency made home ownership a reality for 5,880 North Carolinians with affordable mortgage products, tax credit options and down payment assistance.
Lajuanda Ellis is a first-time home buyer who used the NC 1st Home Advantage Down Payment to purchase her dream home. When asked about the experience, she raved about the education, the process, the ease of electronic documentation, and in her words… “It was worth every minute.”
The NC Home Advantage Mortgage™ provides qualified buyers with the affordable mortgage option they need to purchase a home they can afford for the long term.
The NC 1st Home Advantage Down Payment provides forgivable down payment assistance of $15,000 to eligible buyers, giving them the boost they need to get over the down payment hurdle.
The NC Home Advantage Tax Credit helps qualified buyers more easily afford their mortgage with Mortgage Credit Certificates that reduce their federal tax obligation.
Community Home Ownership
Community home ownership programs funded by the Agency helped a total of 520 North Carolinians purchase homes in 2024 through down payment assistance and low-cost financing for local government partners and nonprofit organizations throughout the state.
Community Partners Loan Pool
The Community Partners Loan Pool provides low- and moderate-income buyers with down payment assistance. This assistance is provided as a zero-interest, subordinate loan combined with the NC Home Advantage Mortgage™ or a USDA Section 502 Direct Loan through a participating CPLP member.
Self-Help Loan Pool
The Self-Help Loan Pool works with Habitat for Humanity Affiliates to provide zero-interest, shared mortgage financing to help eligible low- and moderate-income buyers purchase a Habitat home.
To increase affordability of these homes, the Agency partners with Advanced Energy to offer home certification through SystemVision, building homes to an energy-efficient standard to keep heating and cooling bills low. Ninety-five new homeowners are realizing these energy savings in 2024.
Rehab and Repair
Home ownership is more than just a successful home purchase. The Agency’s rehab and repair programs help keep homes safe and livable for homeowners who are elderly or who have disabilities.
In 2024, 1,070 homeowners received rehabilitation and repairs through the Urgent Repair Program, Essential Single-Family Rehabilitation Loan Pool and the Displacement Prevention Partnership. Total financing of $14.2 million helped these homeowners stay in their homes, avoid costly institutional care and lead healthy, independent lives in their communities.
Urgent Repair Program
The Urgent Repair Program (URP) finances emergency home repairs for North Carolina homeowners who are elderly and have special needs and whose incomes are below 50% of the area median income.
Essential Single-Family Rehabilitation Loan Pool
The Essential Single-Family Rehabilitation Loan Pool finances major repairs for North Carolina homeowners who are elderly or have disabilities and whose incomes are 80% or below the area median income.
Displacement Prevention Partnership
The Displacement Prevention Partnership provides accessibility modifications for North Carolina homeowners who are permanently physically disabled living in an area not served by URP.
Urgent Repair Program Keeps North Carolina Homeowners in Their Homes
“You’ve got good neighbors, a good community here. I’ve thought about moving away a few times, but there’s no place like home.”
– Mr. Rich, URP recipient
Preventing Foreclosure
The Agency continues to administer the State Home Foreclosure Prevention Project (SHFPP) to offer free housing counseling to homeowners who are struggling to make their mortgage payments. Utilizing a statewide network of HUD-approved housing counselors, this program contributed to housing counseling for 1,760 North Carolinians in 2024. Since its inception, SHFPP has helped more than 101,060 homeowners.