North Carolina Community Partners Loan Pool (CPLP)

How do you repay North Carolina Community Partners Loan Pool (CPLP)?

Deferred loan: a 0% loan that has no monthly payment, usually paid off when the home is sold or the term of the loan ends.

With a deferred loan, there's no monthly cost, but selling, refinancing or paying off the first mortgage makes the whole amount due.

Who can get North Carolina Community Partners Loan Pool (CPLP)?

• Your household income must be less than 80% of the area median income in your county.
• Being a first-time buyer isn't required.
• Your credit score needs to be at least 640.
• Before buying, you take a homebuyer education course.
• This help is tied to an NC Home Advantage Mortgage or a USDA Section 502 Direct loan.
• The price limit changes from county to county.

Your county and household size set most limits. Our HUD income limits lookup shows the median income for your area and how your household compares.

Applying for North Carolina Community Partners Loan Pool (CPLP)

1. Because North Carolina Housing Finance Agency sends this help through its approved lenders, you apply with one of them along with your home loan.
2. Using program rules, the lender looks at your credit, income and the home, then sets the money aside for you.
3. This help goes toward your down payment and closing costs at closing.

North Carolina Housing Finance Agency's page for Community Partners Loan Pool (CPLP) has the full rules and says if applications are open; you can also pick a lender using the agency's list of participating lenders.

More first-time buyer programs in North Carolina

• North Carolina NC Home Advantage Mortgage™ down payment assistance:

  Forgivable loan, up to 3% of the home loan amount.

• North Carolina NC 1st Home Advantage Down Payment:

  Forgivable loan of up to $15,000.

Every North Carolina first-time buyer program · Down payment help across every state