Hi, I’m Maureen Mahood, Broker-Owner of SellYourHomeCharlotte.com. If you’re looking to buy your first home in Charlotte, one of the biggest hurdles is saving for the down payment and closing costs. The good news? There are more programs available in 2025 than ever before—at the city, state, and even bank level—that can help you get the keys to your first home faster.
Let’s break them down.
Local & State Programs
House Charlotte (City of Charlotte / DreamKey Partners)
The House Charlotte Program provides deferred down payment assistance (0% loan) to cover part of your down payment, closing costs, or even an interest rate buydown.
To qualify:
To qualify:
- Must be a first-time buyer (HUD definition)
- Home must be within Charlotte city limits
- Purchase price caps apply (around $365,000)
- Completion of homebuyer education is required
DreamKey – Community Partners Loan Pool (CPLP)
CPLP offers up to 25% of the purchase price (max $50,000) as a zero-interest, deferred second mortgage. It can often be combined with House Charlotte or NC programs for maximum savings.
NC 1st Home Advantage Down Payment (State Program)
Administered by the North Carolina Housing Finance Agency, this program gives buyers up to $15,000 in down payment assistance as a 0% deferred second mortgage.
- Available to first-time buyers and military veterans
- Works with FHA, VA, USDA, and conventional loans
Mecklenburg County HOMES Program
The county runs housing assistance programs through its Department of Community Resources. While details change based on funding, it’s a resource worth exploring.
Habitat for Humanity Charlotte Region
Habitat provides affordable housing options and financing for qualifying families, along with required homeowner training. It’s not a quick route, but it can be life-changing for eligible households.
Bank & Lender Programs
These programs are especially important because many of them are not income-based and offer flexibility beyond government grants.
Bank of America
- America’s Home Grant®: Up to $10,000 for down payment or closing costs (no repayment).
- Affordable Loan Solution®: Mortgages with as little as 3% down.
- Select markets also offer zero-down mortgage options targeted for qualifying neighborhoods.
Wells Fargo
- Homebuyer Access® Grant: $10,000 for down payment in eligible markets.
- Dream. Plan. Home.® Program: Low down payment (3%) plus credits toward closing costs.
Truist
- Offers low or no-down payment mortgage options and special assistance grants depending on location.
Other Local Banks
Banks like First Citizens and regional credit unions also offer low-down-payment and first-time buyer products. While not always widely advertised, these can be competitive and worth exploring.
FAQ: First-Time Buyer Programs in Charlotte
Q: Do I have to be a true first-time buyer to qualify?
A: Not always. Programs like NC 1st Home Advantage also apply if you haven’t owned a home in the past three years.
Q: Can I combine multiple programs?
A: Sometimes yes. For example, House Charlotte assistance can sometimes be paired with CPLP or NC state aid, depending on income and loan type.
Q: Are there income limits?
A: Some programs do have income caps (based on area median income), but bank programs often offer more flexibility.
Q: Do these programs run out of funds?
A: Yes, especially local and city-level programs that are budget-based. It’s smart to apply early in the year when funds are replenished.
Q: Can I use these programs for new construction?
A: Many programs allow new construction, as long as the builder and lender accept the terms. Always confirm with your lender.
Bottom Line
If you’re a first-time buyer in Charlotte, 2025 is packed with opportunities to get help covering your down payment and closing costs. From city programs like House Charlotte to national lenders like Bank of America and Wells Fargo, these programs could save you thousands.
Ready to find out what you qualify for?
Download my Ultimate Buyer Guide Or reach out at 704.621.3066 / maureen@sellyourhomecharlotte.Because your agent choice dictates your outcome—and nobody sells Charlotte like we do.
The Ultimate Buyer Guide
