Charlotte House Charlotte Program | North Carolina Housin...

Charlotte House Charlotte Program is administered by the North Carolina Housing Finance Agency (NCHFA) or a

partnering local housing department to promote safe, affordable homeownership and home preservation statewide.

Qualified borrowers can access up to $30,000 plus below‑market‐rate financing, homebuyer education, and

post‑purchase counseling. The program is compatible with FHA, VA, USDA, and conventional loans and may be

layered with Mortgage Credit Certificates or other federal resources. Income and purchase‑price limits,

updated for 2025, ensure assistance targets low‑ to moderate‑income households. Properties must meet NCHFA

standards for safety and habitability. Homebuyers are required to occupy within 60 days of closing, and select

programs offer forgiveness schedules that reduce repayment obligations over time. Funds are reserved through

an NCHFA‑approved lender network and disbursed at closing to reduce out‑of‑pocket costs.

• Household income ≤ 2025 NCHFA limits based on county and family size.

• Purchase price (or after‑rehab value) ≤ NCHFA program cap for the property location.

• Minimum 640 credit score (higher for conventional or self‑help products); DTI ≤ 45 %.

• Completion of an approved homebuyer education course before closing.

• Property must be a 1‑4 unit primary residence, condo, or manufactured home on permanent foundation.

• Up to $30,000 applied to down payment, closing costs, rehab, or mortgage relief.

• 30‑year fixed‑rate mortgage with interest often below market (where applicable).

• Option to combine with NC Home Advantage Tax Credit for up to $2,000 annual federal tax savings.

• Free foreclosure‑prevention counseling available statewide.

1. Review county income and purchase‑price charts on nchfa.com.

2. Obtain pre‑approval from an NCHFA‑participating lender and reserve program funds.

3. Complete HUD‑approved homeownership education online or in person.

4. Execute purchase agreement, finalize underwriting, and lock NC Home Advantage rate if applicable.

5. Attend closing; NCHFA assistance funds are wired to the closing attorney to cover eligible costs.