Loan Submission Process

The North Carolina Housing Finance Agency makes the loan process as simple as possible for you and your home buyers.

View the basic steps below and remember that you can lock in your NC Home Advantage Mortgage™ interest rate, check the loan pipeline and more through our Online Lender Services (OLS) system. 

The Lender Pre-Qualifies the Home Buyer 

Determine if your home buyer is eligible for NC Home Advantage Mortgage™.  

The Home Buyer Submits a Loan Application 

Once you determine your buyer is eligible for an Agency mortgage product, lock in your NC Home Advantage Mortgage™ interest rate through OLS.

The Lender Processes and Approves a Loan

All government loans (FHA, VA, USDA) must be approved by Fannie Mae’s DU/DO, FHLMC’s Loan Prospector or USDA’s Guaranteed Underwriting System. The Agency requires approval by Fannie Mae’s DU/DO for conventional loans.

In addition to verifying all income sources, assets, credit history, property values, etc., you also will be required to complete the additional applicable Agency forms outlined in the buyer’s application submission section. 

The Lender Locks in the Interest Rate in OLS

You can lock in the interest rate for an NC Home Advantage Mortgage™ through the OLS System. A 60-day lock is placed on the rate. Within that time, we should approve and close the loan and have everything reviewed and purchased by the Master Servicer. Extension periods are available for an additional fee.

All applicable documents must be uploaded and approved by the Agency prior to closing.

Agency Approves Loan

All government loans (FHA, VA, USDA) must be approved by Fannie Mae’s DU/DO, FHLMC’s Loan Prospector or USDA’s Guaranteed Underwriting System.

Lender Closes the Loan, and Master Servicer Reviews and Purchases

At closing, you will fund the NC Home Advantage Mortgage™, as well as any related subordinate mortgages. Your closing package should be uploaded to OLS within 10 days after closing.

If the Master Servicer reviews and approves the loan, it will schedule a purchase of the loan, which must be completed prior to the expiration of the 60-day lock period. 

North Carolina Housing Finance Agency / 3508 Bush Street / Raleigh, NC 27609 / 919-877-5700

Disclaimer (please scroll and read, then proceed below)

All information contained on the following Web pages is obtained from the Agency’s books and records, and is believed to be accurate and reliable. Reference should be made to the official statement and operative documents of each series of bonds referred to herein for complete information on that issue. Because of the possibility of human and mechanical error as well as other factors, this information is provided "as is" without warranty of any kind and no representation or warranty, expressed or implied, is made, nor should any be inferred, as to the accuracy, timeliness, or completeness of this information. Under no circumstances shall North Carolina Housing Finance Agency have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error (on account of neglect or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, transmitting, communicating or delivering this information, or (b) any direct, indirect, special, consequential, or incidental damages whatsoever, even if North Carolina Housing Finance Agency is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information. This information relates to bond issues of the North Carolina Housing Finance Agency that have been sold and distributed in underwritten public offerings described in the related official statements. Each viewer of the aforementioned information acknowledges that (i) the North Carolina Housing Finance Agency is not now by this document offering any bonds or other securities, nor soliciting an offer to buy any securities, (ii) this information is not to be construed as any description of the North Carolina Housing Finance Agency-such offerings are only made pursuant to the appropriate official statements of the North Carolina Housing Finance Agency, (iii) the information provided speaks only as of the date thereof and the North Carolina Housing Finance Agency has not in any way undertaken to update such information, and (iv) no representation is made as to the propriety or legality of any secondary market trading of the bonds or other securities of the North Carolina Housing Finance Agency by anyone in any jurisdiction. The financial condition of the North Carolina Housing Finance Agency may have changed since the date this information was prepared.

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