Senate Bill 812 - Homes for Heroes

• Establishes a homebuyers' assistance program through the North Carolina Housing Finance Agency for first-time homebuyers employed full-time as public servants (active duty members, veterans, law enforcement officers, teachers, firefighters, and emergency medical services personnel).

• Provides assistance limited to the lesser of $25,000 or 10% of the purchase price for down payment assistance, mortgage insurance premium assistance, and closing costs.

• Permits the Agency to provide mortgage insurance payment assistance on a monthly basis for no longer than 60 months per homebuyer.

• Appropriates $150,000,000 in recurring funds from the General Fund to the Homeownership Assistance Fund for the 2022-2023 fiscal year.

• Becomes effective July 1, 2022.