Community Partners Loan Pool CPLP IncomeTargeted Down Payment

Community Partners Loan Pool (CPLP) Income-Targeted Down Payment Assistance to combine with NC Home Advantage Mortgage™ A self-supporting public agency. Housing. Builds. NC. com

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, 2 nd mortgage, term matches 1 st mortgage A self-supporting public agency. Housing. Builds. NC. com

CPLP: Benefits & How This Might Work [CATEGORY NAME], [VALUE] [CATEGORY NAME], 20% [CATEGORY NAME], 3% [CATEGORY NAME], 75% A self-supporting public agency. Housing. Builds. NC. com • Reduces Monthly Mortgage Payment by up to 20%* • No Private Mortgage Insurance (PMI) if paired w/ Conventional loan • No payments due* until end of 1 ST Mortgage term (typically 30 years)

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 loans @ $30 K max. A self-supporting public agency. Housing. Builds. NC. com

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 A self-supporting public agency. Housing. Builds. NC. com

Comparison w/ NC Home Advantage NC Mortgage Advantage Mortgage™ • 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 A self-supporting public agency. Housing. Builds. NC. com Community Partners Loan Pool • 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 Prepurchase Counseling for ALL borrowers • Min. $500 borrower contribution • Apply thru local CPLP Member

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 (Leadbased Paint) • Maximum Sales Price Limits • Homes > 10 Yrs. must have 5 Yrs. Usable Life on Critical Building Systems. Consult CPLP Member EARLY! A self-supporting public agency. Housing. Builds. NC. com

Who Are Our CPLP Members? To download a list of current CPLP members with contact info and a list of counties served: www. nchfa. com/homeownership-partners/communitypartners/current-community-partners A self-supporting public agency. Housing. Builds. NC. com

Who are our CPLP Members? Agencies that work with Low- and Moderateincome 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 A self-supporting public agency. Housing. Builds. NC. com

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! A self-supporting public agency. Housing. Builds. NC. com

NCHFA Comparison Chart of Home Buyer Prgs. A self-supporting public agency. Housing. Builds. NC. com