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Mountain Projects Down Payment Assistance Program (CPLP)

Mountain Projects, Inc. · Waynesville, North Carolina

Last verified
See what you qualify forOfficial program site →
Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is Mountain Projects Down Payment Assistance Program (CPLP)?

Mountain Projects Down Payment Assistance Program (CPLP) is a deferred second loan for homebuyers in Waynesville, North Carolina, administered by Mountain Projects, Inc.

  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from NCHFA Community Partners Loan Pool (CPLP).

How much assistance does it provide?

Mountain Projects Down Payment Assistance Program (CPLP) offers up to $50,000 in assistance.

  • Amounts are the program's published maximums, not an offer — Mountain Projects, Inc. determines any individual award.

Do you have to pay it back?

Mountain Projects Down Payment Assistance Program (CPLP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • The assistance is recorded in second position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Mountain Projects Down Payment Assistance Program (CPLP) sets its eligibility rules through Mountain Projects, Inc., and does not restrict applicants to first-time buyers.

The program requires

  • A completed homebuyer education course
  • Must be combined with NC Home Advantage Mortgage or USDA Section 502 Direct loan. Requires 6 hrs homebuyer education + 2 hrs one-on-one pre-purchase counseling. Amount: lesser of 25% of sales price or $50,000. Serves far western NC mountain counties (Cherokee, Clay, Graham, Haywood, Jackson, Macon, Swain). Contact: 800-627-1548.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Mountain Projects Down Payment Assistance Program (CPLP) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% of Area Median Income.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Mountain Projects Down Payment Assistance Program (CPLP) can be used for single_family, townhouse, and condo.

Where does it apply?

Mountain Projects Down Payment Assistance Program (CPLP) is a federal program, so it is not limited to North Carolina.

How do you apply?

Applications for Mountain Projects Down Payment Assistance Program (CPLP) go through Mountain Projects, Inc., which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Mountain Projects, Inc. to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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