Qualifying having financial assistance through the Home Charlotte system
The house Charlotte program was a deposit assistance system you to will bring financial assistance to certified very first time homebuyers who are in need of to buy a home for the Charlotte limitations or perhaps in an excellent designated Area Profile Areas (NPAs). Sponsored and applied by Charlotte-Mecklenburg Casing Relationship therefore the City of Charlotte, this program is made to promote home ownership opportunities to anybody and you will family members and increase the production of sensible houses during the Charlotte. This choice may be used in conjunction with an effective FHA, Virtual assistant otherwise 31-12 months fixed rates old-fashioned financing. FHA 203K loans aren’t permitted.
The cash available with our home Charlotte program are accustomed to buy this new initial costs associated with the purchase out-of a beneficial domestic the brand new down-payment and you can/or closing costs. Money may also be used for attention buy-down.
As an instance, for many who money the acquisition of a home which have good FHA loan, the lender will demand for you to pay a beneficial step 3.5% downpayment (3.5% of price) out of your fund.