Overcoming Barriers to Owning a Home
Navigating the increasingly challenging path to homeownership? From rising interest rates that inflate monthly mortgage costs, to the high cost of new home construction and the growing burden of saving for a down payment—owning a home may feel out of reach. Habitat Charlotte Region stands as a beacon of hope, offering a tangible solution for YOU to achieve homeownership in as little as 12 months.
How it Works
At Habitat Charlotte Region, we believe in setting homebuyers up for success. That’s why we guide you through a comprehensive “education BEFORE application” process.
Begin with Financial Education
Start your journey by participating in our financial education program. We’ll work with you to build a strong financial foundation to prepare for your mortgage application.
Your Invitation to Apply
Once you have met all criteria, you’ll receive a formal invitation to apply for your mortgage via email. (Please note: Completing the pathway improves your chances but doesn’t guarantee approval. Review our criteria below to ensure you’re on the right track).
Mortgage Application & Pre-Approval
Submit your mortgage application and our team will contact you with your pre-approval decision.
Continue Your Journey
Upon pre-approval and acceptance into the Homebuyer Program, you’ll meet with our Homebuyer Team and continue your journey by:
- Completing additional homeownership classes.
- Participating in home construction and community engagement obligations.
- Committing to your future home and maintaining a healthy financial situation.
Need for Housing
Habitat Charlotte Region’s vision is a world where everyone has a safe, affordable place to live and the need for housing looks different for everyone.
Living in overcrowded or substandard housing
overcrowded is defined as more than 2 children sharing a room, 2 children of the same gender sharing a room, children sharing a room with adults, and/or multiple adults sharing a room
Being a resident of public housing,
housing assistance program, or renting a room from a friend or family member​
Paying more than 30% of your gross monthly income (pre-tax) on rent
Your median credit score is less than 650
Cannot be a homeowner at the time of application
Ability to Pay
The ability for you to afford your mortgage is essential to qualifying for a Habitat home. We want you to thrive in your new home for years to come.
To financially qualify for a mortgage with Habitat Charlotte Region:
Income must be stable
Applicants must earn at least $45,000 annually and no more than 80% of HUD’s Area Median Income. View HUD income charts for Iredell, Mecklenburg, or Gaston counties.
Two years of continuous employment
You must be at your current job for one year OR at least three months if you left your previous job for better pay or benefits.
No more than $1,200 delinquent debt
(past due accounts, collections, judgments, liens, and/or repossessions) at the time of application
No more than $15,000 in medical collections
No more than $1,000 in outstanding debt
(revolving credit, lines of credit, or unsecured debts/loans). This calculation does not include Secured Loans such as Student Loans or Auto Loans.
Any bankruptcy must have been discharged
for at least two years at the time of application.
Must meet our minimum Debt-to-Income Requirement
that allows you to afford all monthly debts with more than 12 months of payments remaining, along with an estimated mortgage payment.​
We encourage applicants to pull their FREE credit report from www.annualcreditreport.com to understand their debts and any barriers to becoming pre-approved.
Willingness to Partner
Purchasing a home through Habitat Charlotte Region doesn’t require the typical down payment of a market-rate mortgage. Instead, families agree to partner with us by:
Performing 300 Homebuyer
in-Process (HIP) Volunteer hours, which includes education hours, construction hours, and community engagement opportunities.
Living and/or working in Mecklenburg County
(with the exception of Mint Hill and Matthews), Iredell County, or Gaston County for at least the last 12 months.
Committing to a drug-free community
 Please note that this is not a comprehensive list of requirements and is subject to change upon board approval.
Pathways & Partners Program
Our unique Pathways and Partners curriculum provides the personalized financial education and support you need to succeed. We understand everyone’s journey is different. We will work with you to place you on a personalized pathway that will strengthen your financial foundation and prepare you for mortgage readiness. With our trusted partners and dedicated team by your side, you’ll gain the confidence and skills to achieve your homeownership goals.
Please note: Interested homebuyers are required to complete the Pathways and Partners Program before receiving an invitation to apply for homeownership. Completion of the Pathways and Partners Program does not guarantee application approval.
FAQs
Find answers to commonly asked questions.
How long can I expect the process to take?
Depending on your determined Pathway, the timing can vary. Most participants complete their homeownership journey with Habitat Charlotte Region in 2 years.
What if I am not approved?
If applicants do not meet our criteria for homeownership, and are not selected into the program, they will receive a letter with a description of the reason and a list of HUD approved Financial Counselors or a referral to another qualified organization. Applicants who have been declined are invited to re-enter the Pathways and Partners program for assistance.
Is an active email address required?
Yes! We need program participants to have a valid and active email address in order to complete the Pathways and Partners registration process and upon completion, receive a link to apply. If you do not have an active and valid email address and need assistance, we encourage you to contact a digital navigator by calling 3-1-1.
What if I have a criminal background?
After thorough review and evaluation, the Habitat Charlotte board approved to discontinue criminal background checks for the homebuyer and critical home repair program participants. However, sex offender checks will still be conducted for all program participants. This policy is effective as of December 1, 2024.
What residency status do I need to qualify?
Approved applicants for our Homebuyer program must have Legal residence in the U.S. proven by a Permanent Resident Card, Naturalization Document or Birth Certificate or are a natural born citizen. However, anyone can participate in the Pathways and Partners program.
Still have questions?
Contact us for further assistance.