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The Community Partners Loan Pool

The North Carolina Housing Finance Agency provides financing to local governments and nonprofit organizations to build and rehabilitate homes for low-wealth North Carolinians. The Community Partners Loan Pool (CPLP) provides qualified home buyers with down payment assistance:

  • Up to 20 percent of the sales price, not to exceed $30,000 (effective May 1, 2018), when using a NC Home Advantage Mortgage™
  • Up to 10 percent of the purchase price when using a USDA’s Section 502 loan.

CPLP assistance is structured as a 0 percent interest, deferred second mortgage. The term of the CPLP loan matches the term of the first mortgage. The CPLP Loan has no monthly payment and is typically repaid when the home is sold or at the end of the loan term.

Borrowers may combine a CPLP loan with the NC 1st Home Advantage Down Payment or the NC Home Advantage Tax Credit as well as with other down payment assistance loans or grants.

The program is available through local community partners.

Buyer Eligibility 

Your buyers should contact a CPLP Member to determine eligibility and find an available home and will need to complete an approved home buyer education course and at least two hours of housing counseling. To qualify for this assistance, buyers must meet the following requirements:

  • Qualify for an NC Home Advantage Mortgage™ or USDA Section 502 Loan.
  • Total household income at 80 percent or below of the Area Median Income for the county in which they intend to purchase a home.
  • Proof of sufficient, stable income to afford and maintain their potential home.
  • Minimum credit score of 640.
  • Housing ratio between 25% to 32%t and total debt-to-income ratio less than 43 percent.

Get Started

1

Get your buyer connected with a local partner to learn more about available housing and buyer eligibility.

Find a Community Partner

2

Want to be a Preferred Real Estate Agent with our Agency? Attend a training class on our mortgage products, earn CE toward your license and get listed on our website!

Find a Training Class