Assistance Program Search

Show All Programs

Number in household:
For first time buyers only?:
Annual Income:

Area(s) selected:
Program(s) selected:

 


City of Charlotte Housing Rehabilitation
City of Charlotte Neighborhood Development
http://www.charmeck.org/Departments/Neighborhood+Dev/Home.htm

Program Overview


City of Charlotte Housing Rehabilitation is a program that provides low-interest loans for home rehabilitation to non-bankable low and moderate income homeowners. Property must be located in the City of Charlotte. Priority is given to homes in targeted neighborhoods.


Who is eligible for this program?


Borrowers must have a satisfactory credit history, and participate in a maintenance reserve and home maintenance program. Loan payments may not be greater than 30% of the homeowner's gross income. If the borrower's income is less than $500 per month, or housing expenses are more than 30% of the borrower's gross income, monthly payments are deferred. Funds may be used for repairs to correct code and incipient violations (items in a house that will need to be repaired or replaced in 2 - 3 years) and for general property improvements.

Is this program for first time buyers only? No


Property Eligibility Requirements


Property must be located in the City of Charlotte. Priority is given to homes in targeted neighborhoods.


Benefit Details


Low interest loans, with a maximum 30 year repayment period. Interest rate is 1-3%, and monthly payments are set at not more than 30% of the borrower's gross income. No monthly payments and 0% interest if the borrwer's income is less than $500 per month, or if the borrower's housing expenses are greater than 30% of his or her monthly income.

Benefit: Low interest or deferred payment loans for home repairs.
Loan Term:30 (maximum) years
Owner Occupancy Required:Yes
Other Program Comments:Loans must be repaid upon the death of the borrower, or if the property is resold, refinanced, or rented. Loans may be assumable. Loans of up to $50,000 are approved by the Neighborhood Development Key Business Executive, loans up to $100,000 must be approved by the City Manager, and loans in excess of $100,000 must be approved by the Charlotte City Council.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member.



For more information about this and other homebuyer programs please contact one of the following:

Find a Realtor® in Your Area

 

 



Home  |   Program Search  |   Home Buying Process  |   Consumer Issues  |   Education   |   About
     
This site is sponsored by the Charlotte Regional Realtor® Association
Copyright © 2017 Kansas City Regional Association of Realtors®