Community Partners Loan Pool (CPLP)

Administered by: NC Housing Finance Agency (NCHFA), administered through local nonprofit and government community partners · State · Deferred Loan

Funding status: Active

How much assistance

Up to 25% of the sales price, maximum $50,000 (Deferred Loan)

0% interest deferred subordinate loan. Term matches the first mortgage term. Repaid when home is sold or at end of loan term. Some sources indicate forgiveness at 20% per year at years 11-15; others describe it as a balloon deferred for life of first mortgage. Verify with NCHFA.

Eligibility

  • Income limits: Household income at or below 80% of Area Median Income (AMI) for the county of purchase. Varies by county and household size.
  • First-time buyer required: No
  • Geographic restrictions: Must purchase in North Carolina; property must meet county-specific price limits; available only through participating CPLP community partners (e.g., DreamKey Partners in Charlotte, DHIC in Raleigh)
  • Homebuyer education required: Yes
Visit program website

Notes

Low-income program requiring 80% AMI or below. Must be combined with NC Home Advantage Mortgage or USDA Section 502 Direct loan. Can be layered with NC 1st Home Advantage Down Payment ($15,000). Requires approved homebuyer education course AND minimum 2 hours one-on-one in-person pre-purchase counseling. Existing homes must pass home inspection + local housing code inspection (or HQS). New construction must have Certificate of Occupancy less than 12 months old. Purchase price limit varies by county. Credit score likely defers to underlying first mortgage requirements (640 for NC Home Advantage).

Available Statewide In