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Open the Door to Your Welcome Home Loan

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Moving Forward

unlock your homeownership potential

With lower down payments and options for limited credit history, owning your own home is now within reach. We’ve crafted our Welcome Home Loan with you in mind:

  • No Private Mortgage Insurance (PMI) required
  • Qualifying credit score is lower than most conventional loans
  • Charlotte Metro pays your Appraisal, Credit Report, and Flood Certification fees
  • Options for those with limited credit history
  • 20-year fixed-rate term
  • No homeownership within the last 12 months
  • Most property types approved
  • Closing Costs can be paid by seller
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The Details

let’s talk numbers

  • Maximum loan amount: $300,000
  • Minimum loan amount: $50,000
  • Borrower contribution as low as $1,500 (closing costs not included)
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Ask Mortgage

have a welcome home loan question?

If the Welcome Home Loan sounds like the perfect option for you, but you still have a few questions – reach out to us! We’ll respond to your message on or before the next business day.

have a welcome home loan question?

If the Welcome Home Loan sounds like the perfect option for you, but you still have a few questions – reach out to us! We’ll respond to your message on or before the next business day.

So… What’s the Difference?

home loan comparisons*

Below is an example of how Charlotte Metro’s Welcome Home Loan compares to an FHA and fixed-rate conventional loan. The consumer in this example has requested a loan amount of $175,000, currently maintains a credit score of 660, and is estimating to pay $1,800 in annual property taxes and $800 in annual homeowners’ insurance.

fha
fixed-rate conventional
welcome home loan
interest rate
4.375% APR1
4.750% APR1
4.000% APR1
down payment required
$6,125
$8,750
$2,500
lender fee
$889
$1,750
$1,500
appraisal, credit report, & flood certification fees
$520
$520
$0
(Charlotte Metro pays)
other estimated costs2
$2,700
$2,700
$2,700
loan terms
30 years
30 years
20 years
principal & interest payment (p&i)
$889.04
$912.88
$1,060.47
escrow payment
$216.67
$216.67
$216.67
monthly pmi payment
$124
$207
$0
total monthly payment
$1,229.71
$1,336.55
$1,277.14

make a big impact

The payment difference between the Welcome Home Loan and conventional loan P&I payment is $147 and PMI payment is $207.

... so what?!?

That extra $147 goes toward actually paying off your Welcome Home Loan rather than paying $207 of Private Mortgage Insurance (PMI) to the lender. This means you pay off your Welcome Home Loan 10 years faster than a conventional loan – because every cent builds your equity!

loan balance after 5 years:
  • FHA: $162,007
  • Fixed-Rate Conventional: $160,112
  • Welcome Home Loan: $143,366

Apply for a Welcome Home Loan Ask Mortgage

ok, so here’s the fine print: