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.

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Dayton Down Payment Assistance Program

Financial Assistance for Homebuyers in Ohio

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. 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.

Eligibility Requirements
To qualify for the Dayton Down Payment Assistance Program, applicants must:
  • Be first-time homebuyers.
  • Have a total household income at or below 80 percent of area median income (see income limits below).
  • Contribute at least $500 of their own funds to close.
  • Complete and submit the application and all required documents as outlined in the program guidelines.
  • Complete a pre-purchase appointment with a Homeownership Advisor and a required Homebuyer Class through the HomeOwnership Center of Greater Dayton. At the time of publication on this website, the cost of the education course is $49 in person, or $99 online.
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.

There are certain property requirements that must also be met. 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.

Funds for the Dayton Down Payment Assistance Program are limited and available on a first-come, first-served basis. For more information, contact the HomeOwnership Center at (937) 853-1600. 

Down Payment Grants in Ohio

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 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.

FHA.com Reviews

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