The explosion damaged a front window in the house
The 19-year-old, from Castlerock, will appear before north Antrim Magistrates Court on Friday.
He is accused of causing an explosion and intimidation.
A Catholic family of five escaped injury when a device exploded outside their home at the Woodend Park area of Articlave, near Coleraine, shortly after 0430 GMT on Thursday.
Shrapnel pierced the front door of the house and damaged a downstairs window.
Two adults and three children - the youngest aged eight - were in the house at the time, but escaped without injury.
The police said the attack was sectarian and a "serious attempt to kill or injure someone".
One man has been arrested in connection with the attack.
The police said a vehicle was seen leaving the area at the time of the incident.
SDLP assembly member John Dallat said the majority of people in both communities in Coleraine were appalled by the continuing sectarian attacks.
He said: "Let us hope and pray that in the lead up to Christmas, Catholic families in the Coleraine area may be allowed to lead normal lives, go about their affairs and have their human rights respected.
"That would be the wish of the vast majority of right thinking people in both communities who are equally appalled by this and other outrages."
In a separate incident, the police are investigating an arson attack on a house in Coleraine.
The fire at Hartford Park was discovered on Wednesday night. There were no injuries.
The police said the fire was malicious.