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.
The program asks for
- 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.
- A home in Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain County
It doesn’t cover
- Households above 80% of area median income
- Homes outside Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
80% of Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain County’s area median income
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program before funds are reserved.
Contact Mountain Projects, Inc. to reserve funds
Funds are reserved with the provider and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
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. 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 homebuyers. A homebuyer education course is required. 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.
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) serves homebuyers purchasing in Waynesville, 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. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain County homebuyersOther programs open to Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain County homebuyers
- NC 1st Home Advantage Down PaymentUp to $15,000
- Down Payment AssistanceUp to $2,500
- Community Partners Loan Pool (CPLP)Deferred
Whether two programs can be combined is up to each agency. Ask before you apply.
All 69 programs for Cherokee; Clay; Graham; Haywood; Jackson; Macon; Swain CountyProgram terms are set by Mountain Projects, Inc. and can change; confirm on the official site before you apply.