NCHFA - Housing Drives North Carolina

Intro Scene

NCHFA

The NC Housing Finance Agency leverages public funds with private investments to finance affordable housing opportunities that drive economic, community and personal success for North Carolina and its citizens.

Scroll Down to Drive Through Our 2018 Accomplishments.

Since 1974

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282,080

homes and apartments financed
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$23.2 billion

real estate activity produced
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242,300

jobs supported
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$2 billion

tax revenues generated

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.

2018 Board of Directors

  • R. Gene Davis, Jr., Raleigh, Chair
  • Patricia G. Garrett, Surf City, Vice Chair
  • Michael P. Ayotte, Morganton
  • Leigh T. Brown, Harrisburg
  • Joseph D. Crocker, Winston-Salem
  • Marc Issacson, Greensboro
  • Paul S. Jaber, Rocky Mount
  • James C. Kearney, Sr., Henderson
  • Paul L. Kennedy, Shallotte
  • M. Charles Mullen, Rocky Mount
  • James W. Oglesby, Asheville
  • Chris C. Parrish, Raleigh
  • Tom E. Smith, Raleigh
Learn More

Intro Scene Continued

2018 Housing Developments
Scott Farmer, Executive Director

First Scene

2018

From the Beginning

Our investments in affordable housing have kept North Carolina moving forward since 1974.

All-Time Results

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Home ownership

115,500 homes

valued at $11.4 billion
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Rental production

99,450 apartments

valued at $8.7 billion
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Rent assistance

33,080 apartments

with $2.5 billion in rent assistance
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Housing preservation

34,550 homes and apartments

valued at $368 million
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Supportive housing

5,830 homes

valued at $425 million
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Foreclosure prevention

29,480 homes saved

$5 billion in property value preserved

Second Scene

2018

Housing Investments Drove Results in 2018

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.

2018 Investments

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13,690

homes and apartments financed
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$2 billion

real estate activity produced
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18,750

jobs supported
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$55.3 million

tax revenue generated

Third Scene

2018

Housing Drives Local Economies

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 how affordable housing investments benefit communities.

Housing Credits and Bonds
Awarded in 2018

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5,690

apartment homes produced
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12,500

jobs supported
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42

communities impacted
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$36.9 million

tax revenues generated

All-Time Rental
Production Investments

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99,450

apartment homes built or rehabilitated
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$8.7 billion

property financed
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162,400

jobs supported
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$1 billion

tax revenue generated

Community Home Ownership

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.

More

Third Scene Continued

All-Time Community
Home Ownership Investments

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6,890

homes produced
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$818 million

property financed
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12,890

jobs supported
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$85 million

tax revenues generated

Helping North Carolinians Avoid Foreclosure

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163,100

homeowners counseled
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45,290

foreclosures prevented

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.

Home Repair and Rehabilitation

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34,550

units of housing stock improved
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$550 million+

in health care costs saved
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$368 million

in property value preserved

Fourth Scene

2018

Housing Drives Stability and Success

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.

Renters

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32

Housing Credit developments completed in 2018
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1,750

apartment homes for working families
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560

apartment homes for seniors
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240

apartment homes targeting persons with disabilities

Home Buyers

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4,220

NC Home Advantage Mortgage™ borrowers
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1,430

NC 1st Home Advantage Down Payment borrowers
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1,590

NC Home Advantage Tax Credit recipients
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500

Community Home Ownership Program buyers

Fifth Scene

2018

State Investments Drive Housing Solutions

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.

NC Housing Trust Fund
Incomes Served

Median Family Income (MFI)

0-30% MFI
31-50% MFI
51-60% MFI
61-80% MFI
81-100% MFI

Hurricane Recovery

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.

Sixth Scene

2018

The NC Housing Trust Fund Gets Results

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.

All-Time Trust Fund Results

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36,980

homes and apartments financed
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24,900

jobs supported
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$154 million

tax revenues generated

Seventh Scene

2018

The North Carolina Housing Partnership oversees, establishes policy and allocates funding for the North Carolina Housing Trust Fund.

2018 Housing Partnership

  • Brian Coyle, Wake Forest
  • Scott Dedman, Asheville
  • Roger Earnhardt, Raleigh
  • Scott Farmer, Raleigh
  • The Honorable Dale Folwell, Raleigh
  • Roy J. Helm, Jr., Huntersville
  • Daniel W. Kornelis, Winston Salem
  • The Honorable Michael Lazzara, Jacksonville
  • Melody Underwood Smith, Raleigh
  • Tom E. Smith, Raleigh
  • Sallie Surface, Rich Square
  • Rita Thuot, Gastonia

Eighth Scene

2018

How We Do It

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.

Ninth Scene

2018

How We Pay for It

The North Carolina Housing Finance Agency sells bonds, administers tax credit programs and uses state and federal funds to finance affordable housing.

Specifically, we:

  • Sell mortgage-backed securities and mortgage revenue bonds to finance mortgages and down payment assistance and provide Mortgage Credit Certificates.
  • Administer the Home Investments Partnerships Program to finance home ownership, home rehabilitation and rental production.
  • Award federal Low-Income Housing Tax Credits and funds from the state’s Workforce Housing Loan Program for rental developments.
  • Use federal Hardest Hit Fund dollars for the NC Foreclosure Prevention Fund.
  • Administer the North Carolina Housing Trust Fund to finance affordable housing options for the state’s most vulnerable citizens.

Tenth Scene

2018

How We Connect with Consumers

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.

2018 Connections

1.3 million

HousingBuildsNC.com visitors

265,260

NCForeclosurePrevention.gov visitors

2,688

Social Media Followers

1.6 million

NCHousingSearch.org Affordable Housing Searches

629

Media Stories

20,000

Blog Reads

Eleventh Scene

NCHFA

Good housing for North Carolinians.
Good business for North Carolina.

Find Us

HousingBuildsNC.com

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