1. Community Partners Loan Pool (CPLP)
Income-Targeted Down Payment Assistance
to combine with NC Home Advantage Mortgage™

2. Community Partners Loan Pool (CPLP)
Down Payment Assistance:
Up to 20% of Sales Price, not to exceed $30,000.00, when paired with a NC Home Advantage Mortgage™
O%, deferred payment, 2nd mortgage, term matches 1st mortgage

3. CPLP: Benefits & How This Might Work
Reduces Monthly Mortgage Payment by up to 20%*
No Private Mortgage Insurance (PMI) if paired w/ Conventional loan
No payments due* until end of 1ST Mortgage term (typically 30 years)

4. Community Partners Loan Pool (CPLP)
A few stats from 2018:
# loans closed = 294
259 NC Home Ad + 35 USDA 502
Avg. HH Income = $36,896.00
Avg. HH Size = 2.7 persons
Avg. Sales Price = $170,557.00
Avg. Loan Amount = $28,606.00
Ran out of $ the last quarter for the last 2 years
For 2019, increased budget to $10 Million
Funding for at least 333 $30K max.

5. CPLP: Main Requirements
Low- to Moderate-Income households at or below 80% of Area Median Income
All borrowers must complete at least 8-hrs. of Homeownership Education & Pre- Purchase Counseling
Home Sale Price < Prg. Limit for County
Best Fit: New Homes or Homes < 10 Yrs.
Must apply thru a local CPLP Member

6. Comparison w/ NC Home Advantage
NC Mortgage Advantage Mortgage™
Community Partners Loan Pool
Up to $87,500 statewide (Applicant Income)
Minimum Credit Score: 640
No Housing Ratio
DTI Ratio: Max of 43%
Home Buyer Education only required for FTHB
No min. borrower contribution
Apply thru NC Home Advantage Mortgage™ lender
Up to 80% Area Median Income (Household Income)
Minimum Credit Score: 640
Housing Ratio: 25% Min / 32% Max
DTI Ratio: Max of 43%
Min. 8 Hrs. HB Education and Pre- purchase Counseling for ALL borrowers
Min. $500 borrower contribution
Apply thru local CPLP Member

7. NC Home Advantage Mortgage™ Community Partners Loan Pool
CPLP: Eligible Homes
NC Home Advantage Mortgage™
Community Partners Loan Pool
Single family, townhomes, condos, duplexes & new manufactured
Property age: No restrictions
Maximum Sales Price Depending on Loan Type
Best Fit: New Homes and Existing Homes < 10 Yrs.
Avoid Pre-1978 Homes (Lead-based Paint)
Maximum Sales Price Limits
Homes > 10 Yrs. must have 5 Yrs. Usable Life on Critical Building Systems. Consult CPLP Member EARLY!

8. Who Are Our CPLP Members?
To download a list of current CPLP members with contact info and a list of counties served: partners/current-community-partners

9. Who are our CPLP Members?
Agencies that work with Low- and Moderate- income Home Buyers:
Non-profit Housing Developers of for-sale homes
Non-profit Service Agencies that provide home buyer education & counseling
Public Agencies which offer First Time Home Buyer programs

10. Lender & CPLP Member Referrals
NC Home Advantage Lender refers borrower to CPLP Member for Education, Counseling & Down Payment Assistance or Credit Repair
CPLP Member refers CPLP eligible borrower to NC Home Advantage™ Lender as well as helps borrower(s) become “mortgage ready.”
Loan officers & CPLP Members who support layered financing are a gift to their community. What a fantastic way to make a difference in the lives of your borrowers!

11. NCHFA Comparison Chart of Home Buyer Prgs.