Find Rental Development Financing Options
Find Rental Development Financing Options supports rental housing developers with tax credits, loans, and bond allocations to finance affordable rental housing construction across North Carolina.
Funder: North Carolina Housing Finance Agency
Due Dates: January 15, 2027 (Bond full applications) | January 23, 2027 (Preliminary applications) | March 27, 2027 (Market revisions) | April 10, 2027 (Revised market studies) | May 15, 2027 (Full applications) | October 1, 2027 (Bond/4% Credit preliminary applications)
Funding Amounts: Federal housing tax credits, low-interest loans, and tax-exempt bond allocations
Summary: Financing supports the construction of affordable rental housing throughout North Carolina through an annual competitive application process.
Key Information: New developers who have not previously qualified for Housing Credits must partner with a developer who has done so successfully.
Description
The North Carolina Housing Finance Agency (NCHFA) finances the construction of affordable rental housing throughout North Carolina. Its rental development financing options include federal housing tax credits, low-interest loans, and tax-exempt bond allocations, awarded annually through a competitive process. The Qualified Allocation Plan (QAP) sets selection criteria and application requirements for Housing Credits and tax-exempt bonds.
The Agency’s role continues after financing is awarded. During the compliance period, it monitors funded properties to ensure that rents and residents’ incomes remain within program limits and that properties are well-maintained. Housing Credit applicants may also request Workforce Housing Loan Program and Rental Production Program financing as part of their Housing Credit application, rather than applying separately for these loans.
