South Eastern NC Community Development Corporation Down Payment Assistance (CPLP)

What is South Eastern NC Community Development Corporation Down Payment Assistance (CPLP)?

South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) is a deferred second loan for homebuyers in Rocky Mount, North Carolina, administered by South Eastern North Carolina Community Development Corporation.

• 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?

South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) offers up to $50,000 in assistance.

• Amounts are the program's published maximums, not an offer — South Eastern North Carolina Community Development Corporation determines any individual award.

Do you have to pay it back?

South Eastern NC Community Development Corporation Down Payment Assistance (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?

South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) sets its eligibility rules through South Eastern North Carolina Community Development Corporation, and does not restrict applicants to first-time buyers.

What are the income limits?

South Eastern NC Community Development Corporation Down Payment Assistance (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?

South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) can be used for single_family, townhouse, and condo.

Where does it apply?

South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) is a federal program, so it is not limited to North Carolina.

How do you apply?

Applications for South Eastern NC Community Development Corporation Down Payment Assistance (CPLP) go through South Eastern North Carolina Community Development Corporation, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact South Eastern North Carolina Community Development Corporation to reserve funds

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

3. 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.