House Charlotte Program
DreamKey Partners is proud to administer the House Charlotte Program on behalf of the City of Charlotte. Together, we’re addressing an important need in our community by helping hardworking people achieve upward mobility through homeownership.
The House Charlotte program offers two deferred down payment assistance loan options for eligible customers purchasing within the City of Charlotte limits. These 0% loans can be used for down payment, closing costs, and/or interest rate buy down and are available to households with incomes at or below 80% or up to 110% of the area median income.
To learn more, click to links below.
House Charlotte Program Overview
Income Eligibility Chart
Frequently Asked Questions
House Charlotte Approved Lenders List
Additional information is outlined below.
Program Features
The House Charlotte Program provides 15 or 30 year, deferred loans to qualified applicants. Funds can be used to cover down payment, closing cost and interest rate buy down.
- Funding up to $30,000 for families with household income at or below 80% Area Median Income (AMI) purchasing within Charlotte City limits.
- Funding up to $10,000 for families with household income above 80% AMI, up to 110% AMI purchasing within Charlotte City limits.
Additional eligibility requirements
- Maximum purchase price is $315,000 for new construction properties and $300,000 for existing properties.
- Families with household income that is 110% or less of the HUD Area Median Income may be eligible.
- Participants must complete pre-purchase homebuyer education and counseling through a HUD-Approved Counseling Agency.
- The home must be a family’s primary residence and located within the City of Charlotte.
- The House Charlotte down payment assistance can be combined with other down payment assistance programs, such as North Carolina Housing Finance Agency Community Partners Loan Pool (CPLP).
Getting Started?
- Lenders apply for the program on behalf of eligible buyers. To find out if you are eligible, contact a House Charlotte Approved Lender.
- Please note that House Charlotte is not affiliated with any Real Estate Company, Broker or Agent. Buyers are welcome to use the agent of their choice.
- The selected home must be located within the City of Charlotte limits. To determine if the property of interest is eligible, an address search must be completed through the mapping application.
- Once you have found a house in an eligible area, ask your lender to apply for the House Charlotte Program. All parties on the loan must attend a minimum of eight (8) hours of homebuyer education and counseling with a HUD-Approved Counseling Agency. To register for education courses, buyers can review our Homeownership Education Programs, or call the Homeownership Center of Charlotte at 704-342-0933, Community Link at 704-943-9517, or another local HUD-Approved Counseling Agency. or visit HUD.gov.
- Online Education is accepted from E-Home and Framework ONLY. One-on-one counseling is required. *Please note, we provide (4) hours of credit for online education therefore the remaining (4) hours should come from one-on-one counseling.
- A certificate is issued upon completion of training which is valid for one year only.
- Completion of homebuyer education training does not guarantee approval of House Charlotte funds.
For LENDERS and REALTORS
Address Search
To find out if a house is in a House Charlotte Program eligible area, enter the address in the HouseCharlotte 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 House Charlotte 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 DreamKey Partners at HouseCharlotte@dkp.org.
- A House Charlotte team member will email the requestor, typically the Buyer’s Agent, when the inspection request is processed; notifying them of which Inspector should be contacted for scheduling.
- Certificate of Occupancy accepted if new construction.
In lieu of the House Charlotte inspection, buyer(s) have the option, at the buyer’s cost, to hire an independent Licensed NC Home Inspector. However, this Inspector must complete the House Charlotte Minimum Housing Inspection Forms along with their normal inspection form.
- Upon completion of the inspection, the fully executed contract, the inspection, and the completed 12 page House Charlotte Minimum Housing Inspection form must all be forwarded to House Charlotte via email to HouseCharlotte@dkp.org.
IT IS EXTREMELY IMPORTANT that if your customer chooses this option that you understand and furthermore COMMUNICATE TO THE INSPECTOR THAT TENANT-OCCUPIED PROPERTIES ARE NOT ALLOWED WITH THE HOUSE CHARLOTTE PROGRAM.
Contacts
For General Program Information, Loan Submission Process and Requirements
DreamKey Partners House Charlotte Team
(704)705-3999
HouseCharlotte@dkp.org
For Lender Registration and Post Closing Account Services
City of Charlotte Housing & Neighborhood Services
Ron Mason
(704)336-2754
ronald.mason@charlottenc.gov
For LENDERS
Lender Information
Loan Package Submission
– All loan submission packages requesting House Charlotte funds need to be submitted to DreamKey Partners.
– Please review Guidelines for Completing the House Charlotte Subsidy Package for detailed instructions.
– 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 DreamKey Partners ATTN: House Charlotte 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 House Charlotte 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 20 business days for processing and funding.
– Once the loan is approved, the Lender, Buyer’s Agent and Closing Attorney will be notified via email.
The Closing Process
– When the House Charlotte funds are ready DreamKey Partners will notify the Lender, Buyer’s Agent and Closing Attorney via email. The check will need to be picked up at the City of Charlotte Housing & Neighborhood Services office, 600 E. Trade Street, Charlotte, NC 28202.
– The loan closing documents will be sent to the Attorney Office electronically from DreamKey Partners SharePoint system. The Attorney or Paralegal will need to download the closing documents from here.
– 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 DreamKey Partners ATTN: House Charlotte 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 Effective April 1, 2017 – all Loan Officers who will use the House Charlotte Program must complete a Mandatory lender training. There is an initial New Lender Training as well as an annual renewal training requirement. Please contact HouseCharlotte@dkp.org for details.