Affordable Homes, Affordable Payments
The homes are heavily subsidized by HUD, making them affordable. As a result approved buyers will be asked for income certification, household certification and evidence of homebuyer education from a HUD certified counseling agency.
- Up to 20% of sales price (not to exceed $30,000) from NCHFA/CPLP if combined with a NC Home Advantage Mortgage (a zero interest, deferred second mortgage).
- Up to $8500 (or $10,000 for public service employees) from House Charlotte to be used for down payment, closing costs or interest rate buy down. After year 5 the loan is forgiven at a rate of 20% year year, the loan is completely forgiven after 10 years.
- Up to $8000 from NCHFA for down payment assistance, closing costs, and/or mortgage insurance premiums (0% deferred second mortgage which doesn’t need to be repaid unless you sell, refinance or move out of the home in the first 15 years; loan is forgiven 20% per year at the end of years 11-15, with complete forgiveness at the end of year 15).
- Up to $2,000/year in federal tax savings if 1st time home buyer (Mortgage Credit Certificate). See your lender for more details.
Down payment assistance:
House Charlotte up to $10,000 - click to view the House Charlotte Website
- Community Partners Loan Pool - limits are lesser of 20% house cost click to view the North Carolina Housing Finance Agency
To see if you qualify, and to get started, please contact Donnetta Collier at Self-Help:
Donnetta Collier Project Manager, Self-Help Development Corp. 601 E 5th Street, Suite 355, Charlotte, NC 28202 Phone: 704.409.5913 Fax: 704.332.1514 Donnetta.Collier@Self-Help.org