Dayton Down Payment Assistance Program
Financial Assistance for Homebuyers in Ohio
Available Assistance
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. This a zero-interest, deferred second mortgage. The loan does not need to be repaid unless the property is sold or refinanced, the ownership is transferred, the owner vacates the house, or it becomes a rental or investment property. Funds for the Dayton Down Payment Assistance Program are limited and available on a first-come, first-served basis.
Eligibility Requirements
To qualify for the Dayton Down Payment Assistance Program, applicants must meet certain requirements. They must be first-time homebuyers, and have a total household income at or below 80 percent of area median income (limits shown below). All applicants are responsible for contributing at least $500 of their own funds to close on the home and must complete and submit the application and all required documents as outlined in the program guidelines. They must also complete a pre-purchase appointment with a Homeownership Advisor and a required Homebuyer Class through the HomeOwnership Center of Greater Dayton.
Property Guidelines
A mandatory, local housing code inspection will be conducted by HomeOwnership Center of Greater Dayton, and all identified problems with the structure must be taken care of prior to purchase. One or two unit, owner-occupied primary residences are permitted under the program, including condos and Planned Unit Developments (PUDs), as long as they are located in the municipal corporation limits of the City of Dayton.
Income Limits
1 person household: $35,650
2 person household: $40,750
3 person household: $45,850
4 person household: $50,900
5 person household: $55,000
6 person household: $59,050
7 person household: $63,150
8 person household: $67,200
Note: These figures 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
Bowling Green Housing Programs
The City of Bowling Green offers income-eligible applicants Housing Programs to help them afford safe and secure homes in the city
Communities First Down Payment Assistance Program
The Port offers the Communities First Down Payment Assistance Program, providing first mortgage financing and down payment/closing cost assistance grants to eligible homebuyers.
Cuyahoga County Down Payment Assistance Program
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.
Dayton Down Payment Assistance Program
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.
Toledo Down Payment Assistance
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.
Your Choice! Down Payment Assistance Program
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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