Is CHT Right for Me?
Are you wondering, “Is the CHT home buying program right for me?”
A good candidate for a CHT home is a low- to moderate-income individual or family looking for long-term housing stability. CHT homes help make homeownership possible by offering lower home prices and down payment assistance, making the program a strong option for people who need help entering the housing market.
The CHT home buying program may be a good fit for you if the following apply:
Income Eligibility
- Your household income generally falls between 50% and 115% of the Area Median Income (AMI). A minimum yearly income of about $45,000 is required (to support the cost of the home), with most CHT homes prioritized for households earning 80% of AMI or less. See our income qualifications here.
Homeownership Status
- You do not currently own a home.
Stable Credit and Finances
- You have sufficient credit to qualify for a mortgage (CHT does not check credit, but our mortgage lenders will consider this), manageable debt, and funds for closing costs (typically around $6,000-$10,000).
Commitment to Homeownership
- You are looking for a stable, long-term home, are willing to complete the required homebuyer education and financial counseling, maintain the property and cover maintenance costs, and understand that CHT homeowners build limited equity and that resale restrictions keep the home affordable for future buyers.
Connection to the Community
- You live or work in the Chapel Hill–Carrboro area and want a permanent, affordable home in this community.
If this sounds like the right fit for you, please take the first step and complete our Readiness Questionnaire.
