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Special Financing Programs

Special FinancingPrograms Special financing programs include down payment assistance, 100% financing, subsidized payments and more.  Ask Cheryl or your loan officer about other Special Mortgage and Down Payment  Assistance Programs that may be available.

Affordable Housing Programs

Low to NO Down Payment Conventional Financing with NO Mortgage Insurance.
Available through various participating lenders. Maximum Area Median Income (AMI) limits vary by county, based on number of household members.


Home Buyer Assistance Programs- Available in Concord, Kannapolis, Mooresville & Salisbury City Limits

Up to $5,000 Down Payment & Closing Cost Assistance for applicants with income below 80% of Area Median Income (AMI). Up to $7,500 for Salisbury. 5 Year deferred, forgivable loan. Each city administers their own program & sets specific program guidelines.


FHLB (Federal Home Loan Bank) Down Payment Assistance

Down Payment Assistance Program for 1st Time Homebuyers & Homebuyers who haven’t owned a home in the past 3 years.

Up to $5,000 assistance available through participating lenders. Maximum income limits apply and buyer contribution to transaction required.


House Charlotte Down Payment Assistance

10-year, deferred, forgivable loans to qualified applicants. Funds can be used to cover down payment, closing cost, and interest rate buy down. Home must be located in a designated HouseCharlotte eligible area.

 Funding up to $5,000 for families with income above 80% Area Median Income (AMI), up to 110% AMI.
 Funding up to $7,500 for families with income at or below 80% AMI.
 Funding up to $10,000 for families with income at or below 60% AMI in select HouseCharlotte areas.
 See Program Overview for details funding up to $10,000 for buyers who are employed as sworn CMPD police officers.

Website: www.cmhp.org/homeownership-program/housecharlotte-program.cfm


HUD $100 Down Payment FHA Loan (Available for HUD Foreclosure Properties ONLY) $100 Down Payment FHA financing on HUD foreclosure properties, for Owner Occupant Homebuyers.

Available through participating lenders.

Visit www.hudhomestore.com to view eligible properties.


NC Housing Finance Agency (NCHFA) Home Advantage Programs

NC Home Advantage Mortgage - 3% to 5% Down Payment & Closing Cost Assistance for Buyers with Income up to $87,500/year - MCC (Mortgage Credit Certificate)
FHA, USDA, VA & Conventional Financing Available.
Available through participating lenders.

Office (919) 877-5700 Toll Free (800) 393-0988 Website www.nchfa.com


State Employees Credit Union

NO Down Payment Conventional 5-Year Adjustable Rate Mortgage with NO Mortgage Insurance & Doublewide Loans

Up to $2,000 closing costs can be financed. Credit Union membership required.

Website www.ncsecu.org


USDA Rural Development (Available for homes located in USDA eligible areas)
Direct Loan Program Subsidized payment program with No Down Payment & No PMI for Very Low to Low Income buyers. (Apply Directly to USDA Rural Development).

For Cabarrus, Mecklenburg, Rowan, Stanly & Union Counties - Asheboro Service Center - Office (336) 629-4449 ext. 4 Guaranteed Loan Program No Down Payment, Low PMI Loans for buyers up to Median Income (Apply with Approved Mortgage Company)

Website www.rurdev.usda.gov Contact Cheryl about service centers for other counties.


W-7 Income Buyer Financing & Other Non-Conforming Programs

Latino Community Credit Union

W-7 Income Allowed- Up to 95% Financing- Lack of Credit History– House Charlotte Participating Lender

3130 Milton Road, Charlotte, NC 28215 Office (704) 531-0201 Website www.latinoccu.org


Self Help Credit Union
W-7 Income Allowed- Up to 97% Financing-No PMI- 580 Minimum Credit Score if buyer has score–Doublewide Loans to 95%- Down Payment Assistance Programs- Flexibility regarding debt-to-income ratios, delinquencies, lack of credit & collections. 926 Elizabeth Ave, Charlotte NC 28204 Office (704) 409-5929 

Website www.self-help.org


*Property Location Requirements & Maximum Income Limits based on household size may apply, dependent upon program. 

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Cheryl is the most amazing agent to work with! Since I have worked with her I have recommended her every single time a friend of mine mentioned plans to buy a house. Cheryl is kind and understands her customers needs. Not many agents care about the purchaser actually being happy and Cheryl makes sure her clients are! She went above and beyond for me so that I could move into my house on the day planned, traveling more in one day than anyone could expect from her- just to get my paperwork filed. She was always patient and honest when she felt a house didn't fit my lifestyle and I truly love the decision I have made. Cheryl is more than an agent, she is the person you can trust trhoughout the process - a true partner. I would recommend her any day! Kirsten Hobley
We actually starting looking for realtors starting in 2010 and through it all we found the best in realty. Cheryl Powell answered all of our questions even though we were just looking at that time. In 2012, we contacted Cheryl for her assistance in purchasing a home. We needed someone who knew about the programs out there to assist us here in North Carolina. Cheryl provided us service from beginning to the time of closing. After closing we still like to stay in contact to let her know we are thinking of her. When anyone states they are in the process or need information about purchasing, I refer Cheryl Powell. K. McGriff
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