Our membership with the North Carolina Housing Finance Agency’s Community Partners Loan Pool (CPLP) enables us to reserve CPLP at 0% interest rate, deferred, second mortgage financing for individuals requiring up to 25% of the purchase price of the home or up to $50,000 in down payment assistance (whichever is less). A borrower’s total household income must be 80% or below the area median income. Requirements also include homeownership education, one-on-one counseling, and a minimum 640 credit score.
Eligibility requirements include:
- Your household income is at 80% or below the area median income for your county.
- You qualify for an approved mortgage and meet minimum credit and underwriting guidelines.
- You participate in 8 hours of homebuyer education and counseling through the CPLP member or an approved housing counseling partner. existing (less than 10 years old) home below the sales price limit for your county.