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.

Available Assistance
The qualifying homebuyers receive assistance in the amount of 17% of the total purchase price, plus 5 percent of the purchase price for closing costs. The down payment assistance comes in the form of a deferred mortgage loan, 50 percent of which forgiven after ten years of occupancy. The amount must be used for eligible costs and does not need to be repaid until the sale or transfer of the home.

Eligibility Requirements
To be eligible for the Cuyahoga County Down Payment Assistance Program, applicants must meet certain requirements. They must be first-time homebuyers, who have not owned a home in the past three years. Applicants' annual household income cannot exceed the program's income limits and they must be current on all taxes. The loan-to-value of the first mortgage may not exceed 80 percent. The housing debt-to-income (DTI) ratio may not exceed 28 percent, and the overall DTI ratio must be no higher than 43 percent. Applicants' liquid assets must not exceed $7,500 or six months PITI whichever is greater, after the buyer contribution of 3 percent of the total transaction.

Property Guidelines
Any home being purchased must serve as the applicant's primary residence. Eligible property types include existing or newly constructed single-family homes, occupied by the seller, or vacant for at least 90 days before closing. All properties must be inspected for code violations and for defective paint (must be corrected before the buyer can take title or occupy the house) The HUD-adjusted purchase price limit for single-family houses for the Cleveland-Elyria-Mentor MSA is now $129,000*.

Income Limits*
1 person household: $38,050
2 person household: $43,450 
3 person household: $48,900
4 person household: $54,300
5 person household: $58,650 
6 person household: $63,000
7 person household: $67,350 
8 person household: $71,700 

*Note: All figures cited in these program descriptions were accurate at the time of publication and may no longer be current - visit the program website(s) for updated information.