The North Carolina Housing Finance Agency is a self-supporting public agency that finances affordable housing opportunities for North Carolinians whose needs are not met by the market. Since its creation in 1973 by the General Assembly, the Agency has financed more than 306,130 affordable homes and apartments, totaling $27.6 billion.
The Agency provides financing through the sale of tax-exempt bonds and management of federal tax credit programs, the federal HOME Program, the state Housing Trust Fund, and other programs.
Using these resources and its own earnings, the Agency:
-offers low-cost mortgages and down payment assistance for qualified home buyers
-finances affordable homes and apartments developed by local governments, nonprofit organizations and private owners
-finances the development of housing for people with special needs
-finances the repair and rehabilitation of substandard owner-occupied homes
-offers foreclosure prevention assistance in partnership with HUD-approved housing counseling agencies statewide
-administers HUD rent assistance contracts for 25,000 privately owned apartments statewide