Housing Down Payment Loans/Grants (AMERICAN DREAM DOWNPAYMENT INITIATIVE) | City Of Cincinnati
Accepts applications for zero-interest, deferred, forgivable loans up to $14,000 to assist with down payment and closing costs for an owner-occupied home within the City of Cincinnati.
Categories
Data provided by
211 UWGC
Physical Address
805 Central Avenue, Cincinnati, OH 45202
Hours
mon 8:30am - 5:00pm;tue 8:30am - 5:00pm;wed 8:30am - 5:00pm;thu 8:30am - 5:00pm;fri 8:30am - 5:00pm
Application process
Application required and must be submitted by mail or in person.
Note: applicants must be pre-approved for a mortgage loan prior to applying.
Fee
No monthly payments. One-fifth of the loan will be forgiven for every year the owner occupies the home. Home buyers are still responsible for financing the remainder of the house purchase cost through a conventional lender.
Eligibility
Open to first-time homebuyers interested in purchasing a home within the city of Cincinnati limits. The borrower's annual household income must not exceed 80% of the area's median income. Funds may be used to purchase a single-family home, condominium unit, cooperative unit, or manufactured housing.
Service area
Cincinnati, Ohio
Agency info
City Of Cincinnati
Government administrative offices for the City of Cincinnati, Ohio.