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Prosperity Unlimited Down Payment Assistance Program (CPLP)

Prosperity Unlimited Down Payment Assistance Program (CPLP) is a deferred second loan for homebuyers in Kannapolis, North Carolina, administered by Prosperity Unlimited, Inc.

Last verified Source: Prosperity Unlimited, Inc.
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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 Cabarrus and 12 surrounding counties.
  • A home in Cabarrus; Alexander; Anson; Catawba; Cleveland; Davidson; Gaston; Iredell; Lincoln; Mecklenburg; Rowan; Stanly; Union County

It doesn’t cover

  • Households above 80% of area median income
  • Homes outside Cabarrus; Alexander; Anson; Catawba; Cleveland; Davidson; Gaston; Iredell; Lincoln; Mecklenburg; Rowan; Stanly; Union 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 Cabarrus; Alexander; Anson; Catawba; Cleveland; Davidson; Gaston; Iredell; Lincoln; Mecklenburg; Rowan; Stanly; Union 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.

Income limits in North Carolina

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Prosperity Unlimited, 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 homebuyer can take it to a lender or housing counselor.

Questions about this program

What is Prosperity Unlimited Down Payment Assistance Program (CPLP)?

Prosperity Unlimited Down Payment Assistance Program (CPLP) is a deferred second loan for homebuyers in Kannapolis, North Carolina, administered by Prosperity Unlimited, Inc. Funding comes from NCHFA Community Partners Loan Pool (CPLP).

How much assistance does it provide?

Prosperity Unlimited Down Payment Assistance Program (CPLP) offers up to $50,000 in assistance. Amounts are the program's published maximums, not an offer — Prosperity Unlimited, Inc. determines any individual award.

Do you have to pay it back?

Prosperity Unlimited 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?

Prosperity Unlimited Down Payment Assistance Program (CPLP) sets its eligibility rules through Prosperity Unlimited, 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 Cabarrus and 12 surrounding counties.

What are the income limits?

Prosperity Unlimited 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?

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

Where does it apply?

Prosperity Unlimited Down Payment Assistance Program (CPLP) serves homebuyers purchasing in Kannapolis, North Carolina.

How do you apply?

Applications for Prosperity Unlimited Down Payment Assistance Program (CPLP) go through Prosperity Unlimited, 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 Cabarrus; Alexander; Anson; Catawba; Cleveland; Davidson; Gaston; Iredell; Lincoln; Mecklenburg; Rowan; Stanly; Union County homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 69 programs for Cabarrus; Alexander; Anson; Catawba; Cleveland; Davidson; Gaston; Iredell; Lincoln; Mecklenburg; Rowan; Stanly; Union County

Program terms are set by Prosperity Unlimited, Inc. and can change; confirm on the official site before you apply.