Since June of 2009, Neighborhood Housing Services of Greater Cleveland has administered the Cuyahoga County Down Payment Assistance Program, providing more than $1.29 million in assistance and leveraging more than $9.4 million in investment in Cuyahoga County.
The Cuyahoga County Down Payment Assistance Program is an effort to support homeownership for those whose income is in the low to moderate range. The program allows eligible homebuyers to receive down payment assistance in the amount of 17% of the total transaction.
Eligibility and Requirements
Applicants must meet all of the following eligibility requirements:
- Single family, owner-occupied
- Existing houses or new construction
- Property must be occupied by the seller, or vacant for at least 90 days before closing
- Property must be inspected for code violations and for defective paint
- Code violations and defective paint must be corrected before the buyer can take title or occupy the house
- Homebuyers may not have owned a home in the past 3 years
- Homebuyers must occupy the dwelling as their primary residence
- Homebuyers total household income cannot exceed the stated income limits and they must be current on all taxes
- Loan to Value (LTV) of first mortgage may not exceed 80%
- Housing Debt to Income (DTI) ratio may not exceed 28%
- Overall DTI ratio may not exceed 43%
PLEASE NOTE: If you are under contract and/or have a purchase agreement in place before the dated certificate of completion you are not eligible for this program. For the Cuyahoga County Down Payment Assistance Program online Homebuyer Education cannot be used in place of in-person counseling. Learn about our Homebuyer Education classes here.
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