Short Sale Basics (Sellers)      How to Purchase a Short Sale (Buyers)      Foreclosure (Basics)       Foreclosures (Buyers)

Back to Short Sale Main        House Charlotte        USDA         HUD       See all distressed and program properties

HOUSE CHARLOTTE AND USDA PROPERTIES


House Charlotte Program

The House Charlotte program is a wonderful homeownership down payment assistance program that provides home buying education and financial assistance to prospective homebuyers. On average, buyers can expect to receive financial assistance of $7,500 and in certain cases, as much as $10,000 towards the purchase of a home.  There is an additional incentive of up to $15,000 for police officers.

The eligibility requirements of this generous program are as follows:

  • Families must have 110% or less of the local median income ($51,200 - $96,550, depending on family size).
  • Participants must become certified by completing eight hours of pre-purchase homebuyer education.
  • The home must be the family's primary residence (not investment property).
  • The home must be located in one of 87 designated neighborhoods throughout Charlotte.
  • The purchase price of the home cannot exceed $147,000.
     
    Only specific properties qualify for this program. To see available properties, click here to register and then you will be linked to the property pages.
     

USDA Program

More Families are Taking Advantage of the USDA Loan

In 2009 the USDA enacted changes that made millions of borrowers eligible for their rural mortgage programs. Many home buyers dream of purchasing a home but don't necessarily have the cash on hand to make the hefty 20% down payment required by a conventional home loan.

USDA mortgages stand alone as the only zero money down program available to borrowers that have not served in the military. Eligible borrowers will be hard pressed to find a loan program that offers more favorable terms.


 Who Qualifies for a USDA Mortgage?

USDA Loans used to be considered "farmers loans" but that is simply not the case anymore. Just about anyone looking to purchase a home outside a major metropolitan area can qualify for a USDA Loan.

Some of the eligibility standards that determine if you qualify for a USDA loan for your home include what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim. Because these guidelines are very specific, it is important to work with a company that has experience dealing with USDA government financing to help determine your eligibility.

Like House Charlotte, USDA properties are "for homes in specific areas". Click here to register and then you will be taken to the available USDA property pages. If you are interested in a specific price range, geographical location, size of home, school district, etc., contact us and we will run a search report for you based on your criteria. There is no cost for the custom search.