In response to ongoing home price increases that are squeezing low- and moderate-income buyers out of the market, the NC Housing Finance Agency is increasing its maximum down payment assistance for its Community Partners Loan Pool (CPLP) program to $50,000. This assistance is provided as a zero-interest, subordinate loan that must be combined with an NC Home Advantage Mortgage™ or a USDA Section 502 Direct loan. Borrowers can receive up to 25% of the sales price or a maximum loan of $50,000, whichever is less.
Eligible borrowers must apply for assistance working with a participating CPLP member and must meet household income limits and sales price limits. In addition, borrowers must complete 6 hours of home buyer education as well as 2 hours of one-on-one pre-purchase counseling provided by a HUD-approved housing counseling agency. Learn more and find a local partner.