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Participating Communities D D Cuyahoga County Department of Development Bay Village Beachwood Bedford Middleburg Hts. Moreland Hills Newburgh Hts O O Bedford Hts. Bentleyville Berea North Olmsted North Randall North Royalton W W Bratenahl Village Broadview Heights Brook Park Oakwood Village Olmsted Falls Olmsted Twp. N N Brooklyn Brooklyn Hts. Chagrin Falls Twp Orange Village Parma* Parma Hts. P P Cleveland Heights* Cuyahoga Hts. Euclid* Pepper Pike Richmond Hts. Rocky River A A Fairview Park Garfield Hts. Gates Mills Seven Hills Shaker Hts. Solon Y Y Glenwillow Village Highland Hts. Highland Hills South Euclid Strongsville University Hts. M M Independence Linndale Lyndhurst Valley View Walton Hills Warrensville Hts. E E Maple Hts. Mayfield Hts. Westlake Woodmere N N Department of Development Mayfield Village *limited funds available 112 Hamilton Ct., 4th Floor T for these communities Loan limits per community apply T Cleveland, OH 44114 Commissioners Cuyahoga County Jimmy Dimora Timothy F. Hagan Peter Lawson Jones John Spotts Contact Information : Assistance John Spotts Cuyahoga County Department of Development 112 Hamilton Ct., 4th Floor Cleveland, OH 44114 Phone: 216-443-3163 Fax: 216-443-7258 Ohio Relay Service 711 Email: firstname.lastname@example.org For additional information, visit: “ Own a Piece of the www.development.cuyahogacounty.us American Dream” Down Payment Assistance Program Improving Sustainability in our Housing Stock The Down Payment Assistance Program is Eligible Homes Loans available from the available to income qualified first-time home- y Single family, owner-occupied only. buyers for the purchase of a home in one of Down Payment Assistance fifty-three (53) suburban communities (see y Existing houses or new construction. Program include: back inside panel). Three types of loans are y Property must be occupied by the seller, or available for first time homebuyers as part of vacant for at least 90 days before closing. Deferred Loan the Down Payment Assistance Program. The loans are deferred until the homeowner y Property must be inspected by the city / sells the home or the title transfers. The loans Maximum assistance available can not exceed village for code violations, and by County are 50% forgivable after 5 years of occupancy. $10,000. Assistance is provided in the form of staff for defective paint. a deferred or forgiven loan and need not be y Code violations and defective paint must Vacant/Abandoned Loan repaid until re-sale or transfer of the property. be corrected before the buyer can take The Vacant/Abandoned loan program pro- title or occupy the house. vides first–time home buyers with an oppor- Buyer Participation tunity to purchase a vacant or abandoned y Buyers are required to participate in free Eligible Households property in one of the participating commu- confidential in-person pre-purchase coun- nities listed. seling from an FHA-approved counseling y Homebuyers may not have owned a home in the past 3 years except Diversity Oppor- y 100% forgiveness will be provided after 5 agency and, years of occupancy. tunity purchases and displaced homemak- y Attend free home maintenance training ers. y The home must be recognized as vacant / approved by the County. abandoned by the local building department. y Homebuyers must occupy the dwelling as y Contribute 3% of purchase price into the their primary residence. y Borrowed funds can be used for down pay- deal.” ment, closing costs, and repairs. y Many working families qualify for the loans. Income guidelines are set by HUD and are y Occupancy will not be permitted until the subject to change yearly. local building department certifies that all Eligible Costs risks to health and safety have been con- y Title search fee firmed. y Pre-purchase inspection Diversity Opportunity Loan: y Recording Fees y Diversity Opportunity loans are available y Buyer’s legal fees to individuals who purchase a home in y Filing fees a community we serve with a qualified y Closing costs census tract racially underrepresented. y Credit reports Percentage of racial representation is based y Appraisal on recent census data. Rate, broker fee, origination fee, and points of the first mortgage must not be excessive for y 100% forgiveness will be provided after 5 the type of mortgage obtained by the buyer: years of occupancy. conventional, VA, or FHA. No balloon pay- y This program may not be available in all of ment or prepayment penalty allowed. the participating communities listed.
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