A self-supporting public agency, we consistently keep our operating costs to less than 2 percent of housing financed while maintaining a AA+/Aa1 bond rating.
Our investments in affordable housing have kept North Carolina moving forward since 1974.
The North Carolina Housing Finance Agency financed $2 billion in real estate activity in 2018, an increase of 50 percent in three years and nearly 100 percent since 2014. Housing investments supported job creation, boosted small businesses, increased state and local tax revenues and infused a half billion dollars in wages and spending into the state’s economy.
Affordable housing transforms communities. Affordable housing investments ensure key service providers—teachers, police officers, nurses, firefighters—can afford to live where they work, reducing transportation costs and increasing local purchasing power. In 2018, the Agency leveraged public-private partnerships to improve housing options in 528 communities.
Learn more about the impact of Housing Credits in North Carolina, the positive effect on property values and the immediate and long-term impacts of our rental production investments.
The Agency provides financing to local governments and nonprofit organizations to build and rehabilitate homes for low-wealth North Carolinians. Our Community Partners Loan Pool and Self-Help Loan Pool programs offer mortgage financing and energy efficiency subsidies for home ownership production, leveraging $4 of public and private funds for every $1 invested.
Our Agency protects home ownership by preventing foreclosures, vacancies and disrepair that can damage community vitality. The NC Foreclosure Prevention Fund, which has saved more than $5 billion in property value since its inception, provides mortgage payment assistance for eligible homeowners impacted by no-fault job loss or certain other temporary hardships. The State Home Foreclosure Prevention Project offers free housing counseling, access to legal services for low-income homeowners, and assistance working with servicers. Both programs are available through our statewide housing counseling partner network.
Affordable housing transforms lives. The research is growing: housing affordability drives better health and educational outcomes. The Agency’s work in 2018 opened doors of opportunity for more than 40,000 North Carolinians.
Permanent supportive housing reduces emergency room visits, hospital stays and reliance on government assistance among people experiencing homelessness as well as persons with disabilities. Affordable housing transforms North Carolina. The Agency leveraged the North Carolina Housing Trust Fund with private sector and federal dollars to finance 2,220 affordable homes and apartments for low-income families, seniors, veterans and persons with disabilities in 2018.
Median Family Income (MFI)
As the Agency continued investing NC Housing Trust Fund dollars to repair homes damaged by Hurricane Matthew in 2016, Hurricane Florence swept through many of the same areas in 2018. We partnered with the Governor’s office and other state agencies on Back@Home, a $12 million initiative to help families quickly transition to safe and sustainable longer-term housing. The Agency deployed a $90,000 grant from the AARP Foundation to enhance NCHousingSearch.org in disaster areas to better meet the needs of displaced residents, particularly seniors. The Agency partners with Socialserve.com and North Carolina Department of Health and Human Services on the free, online housing search service.
The North Carolina Housing Trust Fund has helped finance $1.4 billion in housing since its creation. It delivers one of the state’s best returns on investment, leveraging $4 in housing for every Trust Fund dollar.
The North Carolina Housing Partnership oversees, establishes policy and allocates funding for the North Carolina Housing Trust Fund.
It takes a village to build affordable housing. Our Agency works with hundreds of partners across the state to invest financing for apartments and homes, affordable home mortgage products, rental and owner-occupied housing rehabilitation, foreclosure prevention, supportive housing and rent subsidies. Our extensive partner network ensures that every county from Cherokee to Dare benefits from affordable housing investments.
The North Carolina Housing Finance Agency sells bonds, administers tax credit programs and uses state and federal funds to finance affordable housing.
While we rely heavily on our partners to increase awareness about our programs in the community, we also reach out directly to consumers through low-cost online marketing and social media that drive people to our websites, as well as outreach to the media.