City of Charlotte Homeownership Resources
City of Charlotte Homeownership Resources
For most Americans, owning a home is their best long-term investment. A primary residence was the largest asset among households across age groups in 2019. Many homeowners count on their home equity to fund retirement, their children’s education, and other important needs.
Yet, a home is so much more than an investment. In good times and in bad, the opportunity to own a home has been a cherished ideal and a source of pride, accomplishment, social stability, and peace of mind. It is one of the most important and influential ways for individuals to pass along wealth to the next generation.
The City of Charlotte offers several opportunities to help its residents and employees purchase a home.
HouseCharlotte | Classes & Counseling Services | ARR Program
HouseCharlotte
The HouseCharlotte Program offers deferred and forgivable loan options for eligible homeowners. These funds can be used to cover down payment, closing cost and interest rate buy down.
First-Time Homebuyers earning at or below 80% of the Area Median Income (AMI) may qualify for up to $30,000 in base funding, with the potential to receive a dollar-for-dollar match of up to $50,000 when combined with other Down Payment Assistance (DPA) programs—for a total of up to $80,000 in assistance. This assistance is offered at 0% interest and is fully forgivable after 30 years.
First-Time Homebuyers earning between 80% and 110% of AMI may qualify for up to $10,000 in base funding, with a potential dollar-for-dollar match of up to $20,000 when layered with other DPA programs—for a total of up to $30,000 in assistance, also offered at 0% interest and forgivable after 30 years.
The maximum allowable property purchase price is $365,000 for both existing and new construction homes, and the home must be located within the City of Charlotte limits.
Other conditions apply.
Note that the entire loan balance must be repaid if the property is sold, transferred, the owner occupancy status changes, or a cash-out refinance transaction happens before the term period has expired.
HouseCharlotte is administered on behalf of the city by DreamKey Partners. Interested in starting the process? Contact Ron Mason at Ronald.mason@charlottenc.gov or 704-336-2754.
Homeownership 101 Classes and Housing Counseling Services
The city offers several housing counseling services, including financial literacy, pre-homeownership counseling, and foreclosure prevention. Topics covered in these classes include budgeting, credit repair, mortgage loan approval, assisting in locating a home and assisting in negotiating mortgage loan terms, the purchase price, and mortgage loan closing process.
Stay tuned for more information about classes for the public.
For city of Charlotte employees, Homeownership 101 classes are offered directly through Human Resources. These classes will review the homebuying process, available assistance, potential lending options and more. They are typically offered in the spring and fall. Stay tuned for more information.
Upcoming Classes
Please check back for new classes
Acquisition, Rehabilitate, and Resell (ARR) Program
The City of Charlotte recently launched the Acquisition, Rehabilitate, and Resell program to preserve affordable housing in our community. Homes are purchased, rehabilitated, and then resold at affordable prices to qualified homeowners in the House Charlotte program and/or those working with our nonprofit partners.
Available Properties
6748 Sullins Rd.
Charlotte, NC 28214
Bishop Madison Homes
Contact:
Ron Mason
House Charlotte Program Manager
704-336-2754 | ronald.mason@charlottenc.gov | charlottenc.gov
For more information about these resources and opportunities available to residents and employees, contact Ron Mason at Ronald.Mason@charlottenc.gov.
Testimonials
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