Home is For Everyone.

2025 Investment and Impact Report

At the North Carolina Housing Finance Agency, we believe that home is for everyone. That’s why our mission is to provide safe, affordable housing opportunities to enhance the quality of life of North Carolinians. Since its creation by the General Assembly, the Agency has financed nearly 333,400 affordable homes and apartments, totaling $37.4 billion.

Our Impact in 2025

A self-supporting agency, the NC Housing Finance Agency leverages public funds with private investments to finance affordable housing opportunities for all North Carolinians. In 2025, these investments translated into significant gains statewide, including:

$3 Billion

Real Estate Activity Produced

12,500

Homes and Apartments Financed

30,100

Jobs Supported

$130.7 Million

Tax Revenues Generated

530

Communities Reached

All-Time Results

All numbers are based on Agency program counts and value tabulations, with economic impacts assessed using the Bureau of Economic Analysis RIMS II Model. 

Program Outcomes

Home Ownership

In 2025, higher interest rates, low housing stock and rising prices created major obstacles for North Carolina home buyers. With more than $1.2 billion in mortgage financing provided by the Agency statewide in 2025, 5,140 North Carolinians made their dreams of home ownership come true.

Mortgage Products
Community Programs
Rehab & Repair
Foreclosure Prevention

Our Impact in 2025

$1.3 Billion

in Housing Value

$1.2 Billion

in Financing

Mortgage Products

Access to affordable mortgage products like the NC Home Advantage Mortgage™ and the NC 1st Home Advantage Down Payment have been shown to help households build wealth, generate significant tax revenues and help fill the gaps when needs are not met by the market. Learn more about the long-term results of affordable mortgage products.

4,760 Households

 

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.

3,930 Home Buyers

 

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.

Community Home Ownership

Through the Community Partners Loan Pool and the Self-Help Loan Pool, Agency investments in community home ownership programs helped more than 430 North Carolinians purchase homes through down payment assistance and low-cost financing offered through local government and nonprofit partners statewide. Adding to the affordability of these homes, the Agency partners with Advanced Energy to build energy-efficient homes to keep utility costs low.

Community Partners Loan Pool

310 Home Buyers Assisted

 

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

130 Home Buyers Assisted

 

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.

Rehab and Repair

The Agency’s rehabilitation and repair programs help keep homes safe and habitable for homeowners who are elderly or who have disabilities. In 2025, total financing of nearly $16 million helped more than 1,200 homeowners stay in their homes through the Urgent Repair Program, Essential Single-Family Rehabilitation Loan Pool and Displacement Prevention Partnership.

Urgent Repair Program

840 Homeowners Assisted

 

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

160 Homeowners Assisted

 

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

250 Homeowners Assisted

 

The Displacement Prevention Partnership provides accessibility modifications for North Carolina homeowners who are permanently physically disabled living in an area not served by URP.

Rehabilitation and repair programs do more than just keep North Carolinians in their homes. Long-term results include improved mental and physical wellbeing of homeowners, reduced crime rates and improved public health for the surrounding neighborhood. Learn more about the impacts of rehabilitation and repair programs.
Read About Urgent Repair Program's Impact
Read Betty's Story

Foreclosure Prevention

The Agency continues to administer the State Home Foreclosure Prevention Project (SHFPP) to offer free housing counseling services statewide to homeowners who might be struggling to make their mortgage payments. With a statewide network of HUD-approved housing counselors, this program financed counseling for 1,870 North Carolinians. Since its inception, SHFPP has helped more than 102,900 homeowners.

Program Outcomes

Rental Investments

In 2025, rental investments from the NC Housing Finance Agency helped thousands of North Carolinians access safe rental housing that they can afford.

Our Impact in 2025

The Agency finances the construction of affordable rental housing throughout North Carolina with the federal Low-Income Housing Tax Credit (LIHTC), low-interest loans and tax-exempt bond allocations annually through a competitive process.
In 2025, tax credits and tax-exempt bonds will produce 5,000 apartments for families and 1,180 for seniors, impacting 38 communities from the mountains to the coast. Learn the long-term impacts of affordable rental housing in the state of North Carolina.

110

Preliminary Applications Received for Low-Income Housing Tax Credits (LIHTC)

33

Tax-Exempt Bond Awards

31

9% Tax Credits
Watch Hawkins Pointe Story

Rental Assistance

The NC Housing Finance Agency oversees Performance Based Contract Administration for properties with Section 8 Rental Assistance. In 2025, this affordability tool helped 24,370 households.

The Agency also partners with the NC Department of Health and Human Services (NCDHHS) on the Transitions to Community Living Voucher (TCLV), which helped more than 3,420 North Carolinians with disabilities live in communities of their choice instead of institutional care.

The Targeting Program requires properties using Low-Income Housing Tax Credits to set aside between 10% and 20% of units for low-income households to help them access safe, affordable rental housing. Working with DHHS, the Agency provides Key Rental Assistance for those apartments. In 2025 alone, more than 2,520 households were served by this program.

Program Outcomes

Supportive Housing

The Agency invests in projects that help ensure housing opportunities for the state’s most vulnerable citizens through the Supportive Housing Development Program and the Supportive Housing American Rescue Plan. Learn more about these programs.

250

North Carolinians Will Be Helped

by the Supportive Housing Development Program

200

North Carolinians Will Be Helped

by the Supportive Housing American Rescue Plan

Learn About Thrive Independent Living

North Carolina Housing Trust Fund

The State’s Most Versatile Affordable Housing Tool

The North Carolina Housing Trust Fund represents one of North Carolina’s best returns on public investment, providing essential financing to keep North Carolina’s most vulnerable citizens housed. In 2025, the Agency leveraged the North Carolina Housing Trust Fund with private and federal dollars to finance more than 1,360 units of affordable housing for low-income families, seniors, military veterans and people with disabilities.

NC Housing Trust Fund All-Time Results

$452.1 Million

Housing Financed

31,900

Jobs Supported

$185.9 Million

Tax Revenues Generated

Affordable Attainable Housing Benefits

Affordable housing is more than just a buzzword; it’s a critical part of North Carolina’s infrastructure that creates a foundation for the state’s success. Click below to learn how housing benefits many different areas, including education, health, the economy, communities and children.

Agency Leadership

The Board of Directors and the NC Housing Partnership

The North Carolina Housing Finance Agency is overseen by a board of directors made up of 13 members who have relevant expertise in banking, mortgage servicing, home building, real estate and other housing-related fields. The Governor, President Pro Tempore of the State Senate and Speaker of the State House of Representatives each appoint four members, and these 12 members elect the 13th.

The North Carolina Housing Partnership oversees, establishes policy and allocates funding for the North Carolina Housing Trust Fund. The Housing Trust Fund, appropriated by the General Assembly, is North Carolina’s most flexible housing resource, as well as the largest source of financing for supportive housing and emergency repairs or accessibility modifications.

The Housing Partnership consists of 13 members, including the North Carolina Housing Finance Agency Executive Director, the Secretary of the Department of Commerce and the State Treasurer as ex officio members. The North Carolina General Assembly appoints the other 10 members to represent low-income housing advocates, home builders, the League of Municipalities, nonprofit housing development corporations, residents of low-income housing and the real estate lending industry.

2025 Board of Directors

The Board of Directors that oversees the North Carolina Housing Finance Agency is made up of 13 members representing different geographical areas who have an expertise in banking, mortgage servicing, home building and real estate sales. The Governor, President of the state Senate and Speaker of the state House of Representatives each appoint four members, and these 12 members elect the 13th.

J. Adam Abram, Chair

Patricia Garrett, Vice Chair

Leigh T. Brown

Lavonda Daniels

Marc Isaacson

Paul S. Jaber

Paul L. Kennedy

Gary Embler

Ralphine Caldwell

Chris C. Parrish

Tom E. Smith

Jason S. Triplett

Lynn Pinter

2025 NC Housing Partnership

Dan Kornelis, Chair

Kasey Ginsberg, Vice Chair

Malcolm Fearing

Scott Farmer

Thomas Friedman

JC Lyle

James Pressly

Melody Smith

Tom E. Smith

Owen Thomas

Douglas Matney

Stephanie McGarrah

Nathan Ramsey

Strategic Partnerships

​None of the Agency’s work could be done without the help of our many dedicated partners across North Carolina. The Agency extends a heartfelt thank you to all who have helped reach its mission of providing safe, affordable housing opportunities to enhance the quality of life of North Carolinians.

In 2025, the Agency worked with more than 1,500 apartment owners and managers, 420 for-profit developers, 210 lending institutions, 90 local government entities and 300 nonprofit organizations.

919-877-5700
NC Housing Finance Agency
3508 Bush Street, Raleigh, NC 27609
HousingBuildsNC.com

Thank you to all of our partners for helping us create safe, affordable housing opportunities to enhance the quality of life of North Carolinians.

J. Adam Abram, Board Chair
Scott Farmer, Executive Director

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© 2025 NC Housing Finance Agency All Rights Reserved.

In 2025, Thrive Independent Living in Middlesex officially broke ground as a new addition to the First Will Baptist Children’s Home campus. Upon completion, Thrive Independent Living will provide independent living opportunities for youth like Trey from Winston-Salem, who just turned 21 and has been with the First Baptist Children’s Home for two years.

“They really gave a lot of young people from foster homes a chance to prove themselves in how to be an adult,” he said at the event.

In the near future he plans to go to Wilkes Community College to pursue a career as a mechanic.

Supportive Housing

Hawkins Pointe

After being impacted by Hurricane Helene, one Hawkins Pointe resident gets a new lease on life.

After 25 years of home ownership in Onslow County, Betty’s home was a place where she raised her family and made memories. Over the years, Betty’s home began to show its age. With rotting wood, deteriorating windows, a failing tub and other issues, 65-year-old Betty was raising her granddaughter full-time in a home that was no longer safe.

The timing of these repairs was vital. Due to knee surgery and a cancer diagnosis, Betty was unable to return to work at the mess hall on a military base in Jacksonville. Agency Urgent Repair Program partner WARM was able to make her home safer and more accessible with the installation of an accessible shower stall with grab bars, an ADA-compliant toilet, replacement of rotting siding and deteriorating window trim and the installation of new smoke detectors that met Red Cross safety standards.

With these crucial repairs, Betty is now able to focus on her health and caring for her granddaughter without the stress of unsafe living conditions.

Did You Know?

Did you know that the Urgent Repair Program has helped more than 20,000 households since it began? From new roofs and safety measures to ramps and accessibility aids, investments in the Urgent Repair Program are an investment in North Carolina homeowners.

Portia in Spring Lake is just one new homeowner helped by the Agency’s affordable home ownership programs. After taking home buyer education classes and diligently working toward her goal of home ownership, she became a first-time home buyer at 34 years old.

“The kids are loving the house and loving the space,” she said. “I’m a single mom with two kids, I didn’t think it was possible. But it is definitely, definitely possible.”

“I’m truly blessed,” said a resident of The Joyce in Durham. “I love my place. It’s convenient, I can get on the bus and ride anywhere I want to go.”

Financed with housing tax credits and tax-exempt bonds and continuing the Durham Housing Authority’s Downtown and Neighborhood Plan, The Joyce and JJ Henderson in Durham provides homes for seniors across the street from Duke University. A mixed-income development, The Joyce serves residents at 30%, 60% and 80% of the area median income. A renovated development, JJ Henderson continues to serve local seniors nearby. Built to market design standards, the development is indistinguishable from existing market rate apartments in the area, and includes a robust services program provided by the Durham Housing Authority. 

Other rental investments, including Pungo Village in Belhaven, help families afford to stay in the communities they love.

“My family has been here in Belhaven some 150 years and we really do not want to leave,” said a resident of Pungo Village. “We always have been able to find a way to thrive and this affordable housing does that for us right now, so we thank you all.”

In 2024, the Golden LEAF Foundation, which provides funding to increase economic opportunity in rural, tobacco-dependent and economically distressed communities in North Carolina, provided up to $6 million to support the development of new construction family properties in designated counties. Two properties received a combined $4 million under the Golden LEAF Affordable Workforce Housing Initiative, which is provided as a 30-year deferred loan at 0% interest.

In 2022, the NC General Assembly appropriated an historic $190 million to the state’s Workforce Housing Loan Program to address substantial funding gaps for workforce housing developments caused by the COVID-19 pandemic. In 2024, 1,570 units were financed through the infusion of funds to provide affordable rental options in 20 counties.

Our Investment Impacts

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.