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Charlotte House Charlotte

Charlotte, North Carolina

Last verified
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Assistance

$30,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$350,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 30 years

What is Charlotte House Charlotte?

Charlotte House Charlotte is a forgivable loan for homebuyers in Charlotte, North Carolina.

  • City of Charlotte House Charlotte Down Payment Assistance Program providing forgivable loan assistance up to $30,000 for income-qualified homebuyers purchasing within Charlotte city limits. Loan is forgiven at 20% per year over 5 years when the home remains the borrower's primary residence.
  • Up to $30,000 in forgivable loan assistance for down payment and closing costs.
  • loan forgiven at 20% per year over 5 years when home remains primary residence.
  • 0% interest with no monthly payments.
  • available for income-qualified buyers at or below 80% AMI purchasing within Charlotte city limits.
  • Funding comes from Local Government.

How much assistance does it provide?

Charlotte House Charlotte offers up to $30,000 in assistance.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Charlotte House Charlotte is forgiven after 30 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale, Refinance, No Longer Primary, and Transfer of Title.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Charlotte House Charlotte is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course
  • Residency: No Requirement
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident

The program excludes

  • Purchases above the $350,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Charlotte House Charlotte limits household income to 80% of the area median income, which varies by county and household size.

  • The limit applies to total household income, not only the borrower’s.
  • 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?

Charlotte House Charlotte caps the purchase price at $350,000.

  • Eligible property types include Single Family, Condo, and Townhouse.

Where does it apply?

Charlotte House Charlotte serves buyers purchasing in Charlotte, North Carolina.

How do you apply?

Applications for Charlotte House Charlotte go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved through First-Come-First-Served, and are subject to availability.

  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.

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