The North Carolina Housing Finance Agency offers down payment assistance and low-cost financing for North Carolinians with low and moderate incomes. If you are buying a home and your income is below 80% of your county’s area median income, you may be eligible to receive home buyer assistance from one of our Community Home Buying Programs: Community Partners Loan Pool (CPLP) or Self-Help Loan Pool (SHLP).
Down Payment Assistance: Community Partners Loan Pool (CPLP)
The CPLP is the Agency’s most generous down payment assistance program for eligible low- and moderate-income home buyers. Borrowers can receive up to 25% of the sales price or a maximum loan of $50,000, whichever is less. Our 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 must apply for assistance working with a participating CPLP member.
Eligible borrowers must meet household income limits and sales price limits. In addition, borrowers must complete six hours of home buyer education as well as two hours of one-on-one pre-purchase counseling provided by a HUD-approved housing counseling agency (see below for Housing Counseling Requirements and Resources).
For more information, please review the Frequently Asked Questions about CPLP for Potential Home Buyers or contact a CPLP member.
Shared Mortgages with Habitat: Self-Help Loan Pool (SHLP)
SHLP works with participating Habitat for Humanity affiliates (SHLP Member) provides zero-interest, shared mortgage financing to help eligible low- and moderate-income buyers purchase a Habitat home.
Eligible buyers must participate in the construction or rehab of the home they are purchasing. In addition, they must also meet program underwriting requirements, including household income limits, and purchase a home that does not exceed program sales price limits. Borrowers must also complete six hours of home buyer education as well as two hours of one-on-one pre-purchase counseling provided by a HUD-approved housing counseling agency (see below for Housing Counseling Requirements and Resources).
For more information, please contact a SHLP member.
Housing Counseling Requirements and Resources
All CPLP and SHLP borrowers must complete a minimum of 6 hours of home buyer education and 2 hours of one-on-one pre-purchase counseling from a HUD-approved provider. For more information about your options, please talk with the CPLP member or SHLP member helping you apply for assistance.