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Columbus, Ohio's American Dream Downpayment Initiative (ADDI) Program is a deferred loan that helps first-time homebuyers cover upfront costs of a mortgage.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

City of Columbus American Dream Downpayment Initiative (ADDI) Program

The City of Columbus offers first-time homebuyers assistance in purchasing their first home, via the American Dream Downpayment Initiative (ADDI) Program.

Available Assistance
The ADDI Program funds come in the form of a deferred, forgivable loan that is to be used for the down payment and closing costs. The funds are limited and will be available on a first-come, first-serve basis. Households whose income is at or below 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban Development (HUD) may qualify for up to six percent (6%) of the purchase price of the home, a maximum loan of $5,000. After the 5 years, the mortgage and restrictive covenant are released on the property and the loan is forgiven. This program may be used in conjunction with the Housing Development Program (HDP).

Eligibility Requirements
To be eligible for the ADDI program, the applicant must be a first-time homebuyer, meet income limits (shown below), receive homebuyer education from a Housing Division HUD Certified Agency, and purchase a property located in the City of Columbus, Columbus City School District. The applicant must fall within a 35% debt/income ratio and 45% total debt/income ratio based on City income and debt calculations in order to qualify.
Additionally, all buyers must contribute $500 from their own funds toward the purchase of the home. This $500 may not be gifted or come from any other source other than the buyer themselves.
 
Income Limits
1-person household: $43,700
2-person household: $49,950
3-person household: $56,200
4-person household: $62,400
5-person household: $67,400
6-person household: $72,400
7-person household: $77,400
8-person household: $82,400
 
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.

First-Time Home Buyer Programs in Ohio

Columbus, Ohio's American Dream Downpayment Initiative (ADDI) Program is a deferred loan that helps first-time homebuyers cover upfront costs of a mortgage.

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First-time homebuyer 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.

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