Toledo Down Payment Assistance
Financial Assistance for Homebuyers in Ohio
First-time home buyers whose income falls below the threshold are eligible for up to $7,500 to use toward the purchase of a home and up to $9,500 in target neighborhoods. Eligibility Requirements
- The buyer must not have purchased or owned a home during the past three years.
- Existing residential property must be decent, safe, and sanitary.
- Single-family or condominium homes only.
- Homebuyers must make a minimum $500 contribution, which includes payment of a required home inspection.
- Homeownership counseling must be received as the first step in the process from a HUD-approved agency.
- Home At Last application submitted by a participating lender with assistance provided as a grant at closing on the home purchase.
- Visual paint inspection by a licensed lead risk assessor will be provided by the City.
1-person household: $39,450
2-person household: $45,050
3-person household: $50,700
4-person household: $56,300
5-person household: $60,850
6-person household: $65,350
7-person household: $69,850
8-person household: $74,350
*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but State and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.
Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information
Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
Down Payment Grants in Ohio
The City of Bowling Green offers income-eligible applicants Housing Programs to help them afford safe and secure homes in the city
The Port offers the Communities First Down Payment Assistance Program, providing first mortgage financing and down payment/closing cost assistance grants to eligible homebuyers.
The Neighborhood Housing Services of Greater Cleveland has established the Cuyahoga County Down Payment Assistance Program to help first-time homebuyers with the upfront costs of purchasing a home.
The HomeOwnership Center and the City of Dayton partnered to provide the Dayton Down Payment Assistance Program. If qualified, first-time homebuyers might receive up to 10 percent of their new home’s purchase price, to be put toward the down payment and closing costs.
The City of Toledo offers down payment assistance for eligible first-time homebuyers in order to help them secure safe and affordable housing within City limits.
The Ohio Housing and Finance Agency (OHFA) offers the Your Choice! Down Payment Assistance Program to qualifying homeowners. They can choose between assistance of 2.5 or 5 percent of the loan amount, to be applied toward the down payment, closing costs, or any other pre-closing expenses.
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