The agency provides assistance to eligible homebuyers and renters by offering low-interest financing and subsidies, assisting with down payments, and providing rental vouchers for the lowest income households.
The NCHFA offers a variety of programs targeted at different groups of people, including first-time homebuyers, low-income individuals and families, seniors, and veterans. First-time homebuyers can apply for the My Home program, which provides up to five percent of the purchase price of a home in grants or forgivable loans as help for the down payment. Homebuyers can also receive discounted mortgages through the NC Home Advantage Mortgage Program, which offers reduced interest rates to qualified borrowers.
Low-income individuals and families can take advantage of the NC Foundations for Homeownership Program, which offers special mortgage loans with favorable terms and conditions. The NC Housing Opportunity Fund is an additional source of assistance for those who may still need extra help to purchase a home. Low-income renters can also benefit from the NCHFA’s Housing Choice Voucher Program, which assists individuals and families with rent payments.
Seniors and veterans are eligible for additional assistance through the Senior Community Home Ownership Program and the Veterans Mortgage Assistance Program, respectively. These programs provide grants to assist in the purchase of a home and/or make improvements to existing homes.
The North Carolina Housing Finance Agency is dedicated to helping all North Carolinians achieve and maintain safe, decent, and affordable housing. Through their various programs, they offer assistance to first-time home buyers, low-income families and individuals, seniors, and veterans. By providing access to reduced interest rates, cash grants and forgivable loans, and rental vouchers, the NCHFA helps North Carolinians realize their dreams of homeownership and secure a better future for themselves and their families.
The North Carolina Housing Finance Agency (NCHFA) is a government-affiliated agency dedicated to providing safe, decent, and affordable housing across the state of North Carolina. The organization offers numerous programs tailored for various segments of the population, including first-time homebuyers, low-income individuals or families, seniors, and veterans.
The agency provides assistance to eligible homebuyers and renters by offering low-interest financing and subsidies, assisting with down payments, and providing rental vouchers for diverse income households. Their most commonly used program for first-time homebuyers is the My Home program, which gives up to five percent of the purchase price of a home in grant or loan form. They also have various discounted mortgage programs like NC Home Advantage Mortgage Program and NC Foundations for Homeownership Program, both of which provide reduced interest rates on mortgages for eligible applicants.
Apart from these programs, the agency also offers alternatives for low-income renters, such as the NCHFA's Housing Choice Voucher Program, which covers rental payments for tenants with financial needs. Additionally, NCHFA has programs directed at senior citizens and veterans. Senior Community Home Ownership Program offers grants to seniors who wish to purchase or improve their homes, while the Veterans Mortgage Assistance Program provides support for veterans to become homeowners.
As a whole, the NCHFA works to make adequate housing accessible to all North Carolinians, regardless of their financial position, race, age, or service history. Through their various programs, they seek to encourage a brighter future for the state and create a society where everyone has an equal chance to benefit from the advantages and peace of mind that comes with having a place to call home.
This article was contributed on Nov 16, 2023