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 25% the sales price, not to exceed $50,000 (effective September 1, 2022), when using a NC Home Advantage Mortgage™.
- Up to 10% of the purchase price when using a USDA’s Section 502 loan.
CPLP assistance is structured as a 0% 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.
The program is available through local community partners.