Down Payment Assistance Program

Down Payment Assistance Loan Program for Eligible Owner-Occupant Applicants

  • Up to $10,000 Down Payment Assistance for a Single-Family Home
    • The maximum sales of the home may not exceed $129,000
  • Up to $10,000 Down Payment Assistance for a Two-Family Home
    • The maximum sales of the home may not exceed $165,000 

All applicants must be income qualified per the current Department of Housing and Urban Development (HUD) Gross Income Limits. This is a deferred payment, zero (0%) interest second mortgage. The loan is to be repaid immediately at the time of resale, transfer, or if the property becomes absentee-owned.

Household Size 2017 Income Limits
1 $38,050
2 $43,450
3 $48,900
4 $54,300
5 $58,650
6 $63,000

     *(Call 216-291-4869 for income limits on household sizes not listed.)   

Requirements

All applicants must also meet the following requirements:

  • Receive certification of completion of pre-purchase and home maintenance counseling from a HUD approved agency; 
  • Contribute a minimum of 3.50% of the sales price towards the home purchase (gifts funds also eligible); 
  • Receive approval and first mortgage commitment for the purchase of the of the home from a mortgage lender. 

Related Documents

For more information contact Lori Sanford by email or call 216-291-4869.