Habitat Charlotte Region Homebuyer Program

What is Habitat Charlotte Region Homebuyer Program?

Habitat Charlotte Region Homebuyer Program is a first mortgage for homebuyers in Charlotte, North Carolina, administered by Habitat for Humanity of the Charlotte Region.

• Habitat Charlotte Region builds and sells affordable homes to income-qualified buyers (30-80% AMI; minimum household income $45,000) in Mecklenburg, Iredell, and Gaston counties. Buyers must demonstrate housing need, complete 150-300 Homeowner-In-Process volunteer hours, and complete Habitat's Pathways and Partners financial literacy curriculum. Mortgages are structured so monthly payments do not exceed 30% of gross income; veterans may apply outside normal cycles.
• No traditional down payment required.
• Affordable mortgage (payment under 30% of income).
• 150-300 sweat-equity hours.
• Financial literacy curriculum.
• Veterans can apply outside open cycles.

Do you have to pay it back?

Habitat Charlotte Region Homebuyer Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of the Charlotte Region.

• The assistance is recorded in 1 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

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

What are the income limits?

Habitat Charlotte Region Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size.

• Between 30-80% of HUD AMI; minimum household income $45,000; opportunities may be limited in the 60-80% range. Mortgage payment under 30% of gross monthly income; total DTI under 40%.
• 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?

Habitat Charlotte Region Homebuyer Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Habitat Charlotte Region Homebuyer Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Habitat Charlotte Region Homebuyer Program serves buyers purchasing in Charlotte, North Carolina.

How do you apply?

Applications for Habitat Charlotte Region Homebuyer Program go through Habitat for Humanity of the Charlotte Region, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat Pathways and Partners financial literacy curriculum; mandatory orientation; HIP classes.

2. 2

   Contact Habitat for Humanity of the Charlotte Region to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 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.