HouseCharlotte Program

The City of Charlotte and Charlotte-Mecklenburg Housing Partnership, Inc. (CMHP/ The Housing Partnership)  joined forces January 4th, 2011 to more efficiently administer the HouseCharlotte Program.

Program Features

The HouseCharlotte program provides 10-year, deferred, forgivable loans to qualified  applicant’s .  Funds can be used to cover downpayment, closing cost, and interest rate buy down.

 

  • Funding up to $5,000 for families with income above 80% AMI, up to 110% Area Median Income (AMI)
  • Funding up to $7,500 for families with income at or below 80% (AMI)
  • Funding up to $10,000 for families with income at or below 60% AMI in select HouseCharlotte areas.  See Program Overview for detalis
  • Funding up to $10,000 for buyers who are employed as sworn CMPD police officers.  This is a 5-year deferred, forgivable loan.

Eligibility

  • Families with incomes that are 110% or less of the HUD Area Median Income are eligible for assistance
  • Participants must complete a pre-purchase homebuyer education program.
  • The home must be a family’s primary residence and be located in one of designated HouseCharlotte eligible areas.
  • Maximum purchase price of home is $155,000.
    • *For new construction properties approved for HouseCharlotte funds and NCHFA CPLP NCHFA-CPLP (Community Partners Loan Pool), the maximum purchase price is $195,000

 

 

How the program works

Banks apply for the program on behalf of qualified buyers. To find out if you are qualified, contact approved lenders, which are included in the list linked to this website.

 

The selected house must be located in one of the approved Charlotte Neighborhood Statistical Areas (NSAs). Each Charlotte neighborhood is further broken down into Neighborhood Profile Areas.  To determine if the property of interest is eligible, and address search must be completed through the mapping application.  See Address Search section below.

 

Once you have found a house in an eligible area, ask your lender to apply for the HouseCharlotte program. You also must complete a homebuyer education program. In order to register for a homebuying course, buyers may contact Community Link at 866-230-0956 or any other HUD-Approved Counseling Agency.

Address Search

To find out if a house is in a HouseCharlotte Program eligible area, enter the address in the Neighborhood & Business Services Mapping Application. The property’s eligibility will be available in the information bubble on the map.

Please note Effective March 2014 Tenant occupied properties are not eligible for purchase using HouseCharlotte funds.  Neither can the inspection request be processed.  Once the tenant has moved, the inspection can be ordered.  At that time a new purchase contract dated after the property is no longer tenant occupied, and a new Inspection Request form will be required. 

  • Email the inspection request form, along with the fully executed contract, to The Housing Partnership at HouseCharlotte@cmhp.org.
  • A HouseCharlotte team member will email the requestor, typically the Buyer’s agent, when the inspection is ordered; notifying them of which Inspector should be contacted for scheduling.
  • If the property does not pass inspection the requestor and the lender will be contacted via email in reference to re-inspection.
  • The HouseCharlotte loan funds will not be released until the property either passes inspection, or receives a Certificate of Occupancy if new construction.
  • Borrowers should not rely solely on the HouseCharlotte inspection.  The HouseCharlotte inspection generally covers code violations. Therefore we highly recommend that borrowers hire their own Inspector to complete a full structural/mechanical home inspection in addition to the HouseCharlotte inspection.

Loan Package Submission

 

  • All loan submission packages requesting HouseCharlotte funds need to be submitted to The Housing Partnership.
  • Lenders will be able to upload the loan submission package electronically through our SharePoint system at https://HouseCharlotte.cmhp.org. This is our preferred method for receiving packages, however, in case of technical issues, our address is The Housing Partnership ATTN: HouseCharlotte 4601 Charlotte Park Drive, Suite 350, Charlotte, NC 28217.
  • Each lender will be assigned (1) one username and password. Your Admin or Technical Support person will need to make sure the SharePoint access is set-up properly.
  • A HouseCharlotte team member will confirm receipt of your package by emailing the lender and the Buyer’s agent.
  • Upon receipt of a complete loan submission package, allow 15 business days for processing and funding.
  • Once the loan is approved, the Lender and Buyer’s agent will be notified via email.

The Closing Process

 

  • When the HouseCharlotte funds are ready The Housing Partnership will notify the Lender and the Buyer’s agent via email. The check will need to be picked up at City of Charlotte Neighborhood & Business Services office, 600 E. Trade Street, Charlotte, NC 28202.
  • The loan closing documents will be sent to the Attorney Office electronically from The Housing Partnership SharePoint system. The Attorney or Paralegal will need to download the closing documents from the system at https://HouseCharlotte.cmhp.org.
  • Each Attorney Office will be assigned (1) one username and password to be used by all locations.

 

Attorney office should return closed executed original closing documents to The Housing Partnership ATTN: HouseCharlotte 4601 Charlotte Park Drive, Suite 350, Charlotte, NC 28217.

Become a Registered Lender

 

Lender Information Letter  (Includes items required to be submitted with Lender Agreement)
Lender Agreement
–  Exhibit A

Contacts

For General Program Information, Loan Submission Process and Requirements
The Housing Partnership HouseCharlotte Team
(704)705-3999
HouseCharlotte@cmhp.org

 

For Lender Registration and Post Closing Account Services
City of Charlotte Neighborhood & Business Services
Ron Mason
(704)336-2754
rmason@charlottenc.gov