NCHFA Mortgage Payment Program | North Carolina Housing 2025

NCHFA Mortgage Payment Program is administered by the North Carolina Housing Finance Agency (NCHFA) or a

partnering local housing department to promote safe, affordable homeownership and home preservation statewide.

Qualified borrowers can access up to 6 months mortgage payments plus below‑market‐rate financing, homebuyer

education, and post‑purchase counseling. The program is compatible with FHA, VA, USDA, and conventional loans

and may be layered with Mortgage Credit Certificates or other federal resources. Income and purchase‑price

limits, updated for 2025, ensure assistance targets low‑ to moderate‑income households. Properties must meet

NCHFA standards for safety and habitability. Homebuyers are required to occupy within 60 days of closing, and

select programs offer forgiveness schedules that reduce repayment obligations over time. Funds are reserved

through an NCHFA‑approved lender network and disbursed at closing to reduce out‑of‑pocket costs.

• Household income ≤ 2025 NCHFA limits based on county and family size.

• Purchase price (or after‑rehab value) ≤ NCHFA program cap for the property location.

• Minimum 640 credit score (higher for conventional or self‑help products); DTI ≤ 45 %.

• Completion of an approved homebuyer education course before closing.

• Property must be a 1‑4 unit primary residence, condo, or manufactured home on permanent foundation.

• Up to 6 months mortgage payments applied to down payment, closing costs, rehab, or mortgage relief.

• 30‑year fixed‑rate mortgage with interest often below market (where applicable).

• Option to combine with NC Home Advantage Tax Credit for up to $2,000 annual federal tax savings.

• Free foreclosure‑prevention counseling available statewide.

1. Review county income and purchase‑price charts on nchfa.com.

2. Obtain pre‑approval from an NCHFA‑participating lender and reserve program funds.

3. Complete HUD‑approved homeownership education online or in person.

4. Execute purchase agreement, finalize underwriting, and lock NC Home Advantage rate if applicable.

5. Attend closing; NCHFA assistance funds are wired to the closing attorney to cover eligible costs.