HUD Articles
House Charlotte Downpayment Assistance
May 10, 2019
Program Features
The HouseCharlotte program provides 5, 10, or 15-year, deferred, forgivable loans to qualified applicant’s . Funds can be used to cover downpayment, closing cost, and interest rate buy down.
- Funding up to $10,000 for families with household income at or below 80% Area Median Income (AMI) purchasing within Charlotte City limits.
- Funding up to $10,000 for Public Service Employees with household income at or below 80% AMI purchasing within Charlotte City limits.
- Funding up to $5,000 for families with household income above 80% AMI, up to 110% AMI purchasing within Charlotte City limits.
- PILOT PROGRAM – Up to $17,000 for families with household income at or below 80% AMI purchasing in select High Cost City of Charlotte NPA’s.
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Eligibility
- Families with household income that is 110% or less of the HUD Area Median Income are eligible for assistance
- Participants must complete a pre-purchase Homeownership program through a HUD-approved Housing Counseling Agency.
- The home must be a family’s primary residence and be located within the City of Charlotte or one of designated HouseCharlotte eligible NPA’s per the Program Features.
- Maximum purchase price is $230,000 for New Construction properties and $200,000 for Existing properties.
- The HouseCharlotte down-payment assistance can be combined with other DAPs such as NCHFA-CPLP (Community Partners Loan Pool).
- Call EMJ Realty & Asset Services
- 704-536-5356