Do you know how to buy a home in Charlotte with no money down? There are loans available in the Charlotte NC market that provide 100% financing with no down payment required? On top of that there is no PMI….I repeat….no Private Mortgage Insurance! This has the effect of allowing Charlotte area home buyers to qualify for a higher purchase price and/or lower the monthly payment by hundreds of dollars each month. As long as you meet the minimum credit score requirement (680+), employment and DTI requirements, you may be eligible for this 100% financing. No need for any restrictive Charlotte area down payment assistance programs for first time home buyers.
If that isn’t enough, it gets better. Unlike so many other options, this “no down payment loan” is not reserved just for Charlotte area first time home buyers, and there are no income limits. Loan amounts can go up to $453,100 as long as the home is purchased anywhere in Mecklenburg, Union or Cabarrus counties in North Carolina, or York, Lancaster and Chester counties in South Carolina. If you’re interested in determining whether you qualify for this fabulous home purchase loan, contact us for more information. Pruitt Miller Realty Group is a full service real estate brokerage specializing in home purchases, seller marketing and relocation services. We make it easy to purchase a home. Ask us how!
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Hi, what is the dti requirement for the 0 down loan product? Thanks
Hi Olivia. The max DTI for this option is 45%. Let us know if we can help you.
Would like more details on loan described above. I meet the criteria you listed. Thanks.
With a 680 minimum credit score there is no down payment required, nor is there any PMI. The interest rate is slightly higher than a market rate mortgage by about a 1/2 point. However because the loan has no PMI, the resulting monthly payment is still lower than a lower-rate loan with PMI. In addition, since there is no mortgage insurance, you save thousands in closing costs because there is no upfront MIP (mortgage insurance premium) associated with the loan. It is the best loan product in our market for someone looking to avoid a significant down payment, and we have dozens of past clients who have benefited from this exceptional loan. Best of all, there is no inome limit and it can be used for purchase a home up to $453K anywhere within a 6-county region of Charlotte including over the border in South Carolina. I hope that this helps. Feel free to contact me with any other questions.