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North Carolina REALTORS® Supports Housing Education

In furtherance of the Association’s long-standing commitment to preparing first-time homebuyers, NC REALTORS® announced a financial contribution of $121,000 to the North Carolina Housing Finance Agency in support of first-time homebuyer education programs across the state.

These funds are drawn from the North Carolina Real Estate Educational Foundation (NC REEF), an organization committed to providing real estate education resources to REALTORS®, real estate professionals, and consumers. The Foundation officially ceased operations in 2019, providing its remaining resources as grants to the UNC Charlotte Foundation, the UNC Kenan-Flagler Wood Center for Real Estate Studies, and the NC Housing Finance Agency.

“NC REALTORS® is ecstatic to provide these funds to the NC Housing Finance Agency in support of these valuable education programs,” said Maren Brisson-Kuester, 2020 NC REALTORS® President. “First-time homebuyer education is vital in providing a platform for understanding the importance of homeownership and building individual wealth. We could not think of a better place to commit the monies from NC REEF to make a real difference in our state.”

The NC Housing Finance Agency will award these funds as $5,000 grants to 25 local housing counseling providers to provide counseling to those looking to realize the American dream of homeownership. From the mountains to the coast, these organizations represent a needed service in our communities.

“Pre-purchase counseling has been shown to improve homebuyers’ financial creditworthiness and lower delinquency rates,” said Scott Farmer, executive director of the NC Housing Finance Agency. “As the housing market reacts to COVID-19 and its impacts, housing counseling has never been more important to helping buyers become prepared and successful homeowners.”

The North Carolina Housing Finance Agency is a self-supporting public agency that finances affordable housing opportunities for North Carolinians whose needs are not met by the market. In addition to offering low-cost mortgage and down payment assistance through a statewide lender network, the Agency leverages partnerships with local governments, nonprofit organizations and private developers to finance affordable homes and apartments. Since its creation in 1973 by the General Assembly, the Agency has financed more than 293,000 affordable homes and apartments, totaling $25 billion.

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