About Charlotte Down Payment Assistance for Home Buyers


The following information can also be found on the City of Charlotte website www.cmhp.org/homeownership/housecharlotte-program/

We are Chris Angel Real estate and we work with House Charlotte down payment certified and approved mortgage professionals, and we are intimately familiar with the City of Charlotte’s “House Charlotte Down Payment Assistance Program”. We are dedicated to assisting home buyers achieve the American dream; owning a new home. We can assist you in getting approved for the city’s program, obtaining a home loan, and finding you the home of your dreams. This program is excellent for first time home buyers or anyone who has not owned a home in the last three years.

The House Charlotte down payment assistance program was created to help home buyers with the downpayment and closing fees required for the purchase of a residence located in Charlotte, NC.

This city sponsored program has helped thousands of home buyers purchase a home when they were otherwise unable qualify.

House Charlotte Down Payment Assistance

The House Charlotte down payment program Features are as follows…

  1. Up to $8,500 for families with income at or below 80% AMI purchasing within Charlotte City Limits.
  2. Up to $10,000 for buyers who are Public Service employees with income at or below 80% AMI purchasing within Charlotte City Limits. Public Service employees include: City of Charlotte, Charlotte Mecklenburg School, City Fire Department,
    Mecklenburg County Sheriff employees, Mecklenburg County Medical employees, and CATS employees.

  3. Up to $5,000 for families with income above 80% AMI, up to 110% AMI in select HouseCharlotte neighborhoods.

  4. You must attend eight hours of homebuyer education and counseling with a HUD-approved Housing Counseling Agency before you purchase a home.

Acceptable Mortgages For Program

A) HouseCharlotte funds may be used with 30-year fixed rate FHA, Conventional, VA, and USDA loans.
B) 203K Rehab/renovation loans are not allowed.
C) The home must appraise for the purchase price or greater.
D) HouseCharlotte does not allow Adjustable Rate Mortgages (ARM’s).

House Charlotte Down Payment Assistance Program

How the program works…

The HouseCharlotte forgivable loan is a 5, 10, or 15-year deferred, loan with a 3% interest rate.

5-Year: The loan is deferred for years 1-2, and forgiven at a rate of 331/3% per year beginning at the end of the 3rd loan year, with the accrued interest being totally forgiven at the end of the 5th year.

10-Year: The loan is deferred for years 1-5, and forgiven at a rate of 20% per year beginning at the end of the 6th loan year, with the accrued interest being totally forgiven at the end of the 10th year.

15-Year: The loan is deferred for years 1-10, and forgiven at a rate of 20% per year beginning at the end of the 11th loan year, with the accrued interest being totally forgiven at the end of the 15th year.

The loan must be paid back if any of the following occurs before the forgiveness date: death of the borrower, default, change in occupancy status, refinance for cash out, or sale of the home.

Chris Angel Real Estate has helped hundreds of families find new homes. Please let us assist you in your home search. Please fill out the short online form on this website or call Chris Angel Real Estate at PH: 704-493-4547. We will be happy to assist you.

House Charlotte Homes For Sale

There are many types of homes that are eligible for the program. There are resale homes as well as brand new homes from various builders such as Wade Jurney Homes, True Homes, LGI Homes, Regent Homes, and Accent Homes just to name a few. We can assist you in dealing with any of these builders and ensuring you get the best deal possible.

If you have any questions or If you would like to schedule a viewing of all the available homes for sale, just give us a call. PH: 704-493-4547

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