House Charlotte Program Overview
To determine how much financial assistance you could get for the purchase of a home using the House Charlotte program, several factors are taken into consideration such as household income and where the home you want to purchase is located. It is very important to account for all sources of income for your household in determining whether or not you qualify for the House Charlotte Program. Child support, social security, and disability count as income. Furthermore, for married couples, even though only one spouse can be on a loan for the purchase of a home, both spouses’ incomes will be taken in consideration by the House Charlotte program to determine eligibility.
House Charlotte Program Overview
| House Charlotte Program |
Families at or below 80% of median income $88,950* Program 1-A |
Families above 80% to 110% of median income $133,440* Program 1-B |
Public Service Employee at 80% or below of Median Income $88,950 |
PILOT PROGRAM (Coming Soon) High Cost Families at or below 80 % of median income $88,950* |
| HouseCharlotte downpayment assistance funds can be used for any combination of the following: downpayment, closing cost (that may also include credit repair/ counseling), and interest rate buy down. City assistance must be requested through HouseCharlotte approved lenders. Funds are provided as a 5, 10 or 15-year deferred, forgivable loan. |
$8,500 10-year term. |
$5,000 10-year term. |
$10,000 Homebuyers who are employed by the following employers: •City of Charlotte •Charlotte-Mecklenburg Schools •Mecklenburg County Sheriff Dept. •Mecklenburg County Medical employees •CATS 5-year term. |
$17,000 15-year term. |
| Eligible Neighborhood Profile Areas (NPAs) |
ALL City of Charlotte NPA’s |
Limited to select House Charlotte designated NPA’s |
ALL City of Charlotte NPA’s |
Limited to select High Cost City of Charlotte NPAs |
| Maximum Sales Price |
$315,000 for new homed and $285,000 for existing properties |
$315,000 for new homed and $285,000 for existing properties |
$315,000 for new homed and $285,000 for existing properties |
$315,000 for new homed and $285,000 for existing properties |
| Gift from relatives or non-profit for additional closing costs allowed |
Yes |
Yes |
Yes |
Yes |
| Counseling Required |
Pre-Purchase |
Pre-Purchase |
Pre-Purchase |
Pre-Purchase |