The Port offers the Communities First Down Payment Assistance Program, providing first mortgage financing and down payment/closing cost assistance grants to eligible homebuyers.

FHA Rates Near 50 Year Low!

Now is the time to drop the interest rate on your 30-year mortgage or refinance into a 15-year home loan.

FHA Rates for
Are You Watching Your Credit Score?

NOTICE: Some FHA mortgage lenders are substantially raising FICO score requirements during the Coronavirus crisis, even though FHA minimums remain unchanged.


- Improving Your Credit Score Has Never Been More Important -

Get started one
Get started two
Get started three
Get started four
FHA.com is a privately owned website, is not a government agency, and does not make loans.

Choose a Loan Type

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

Communities First Down Payment Assistance Program

Financial Assistance for Homebuyers in Ohio

 
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 Port created Communities First - Ohio as part of a commitment to increasing homeownership opportunities for residents in Ohio.  

Available Assistance 
The assistance funds come in the form of a grant, not a second loan. This gives borrowers instance equity in the home. Additionally, because Communities First is a grant, there are no restrictions on reselling your home or refinancing your mortgage. With the program’s 3, 4, or 5% down payment assistance options allow homebuyers more flexibility to choose only what they need to keep interest rates low. 

Eligibility Requirements 
To be deemed eligible for the program, individuals must apply through a participating lender, and meet standard industry guidelines. Not exceed maximum income limits. Have a maximum debt-to-income ratio of 45% (subject to change). Have a minimum FICO credit score of 640 (subject to change). Occupy the property as their principal residence within 60 days. 

*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  spacer

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.

SEE YOUR CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


spacer
X Open Me

I am opened!

This is where the content goes