Below is information on a Down Payment Assistance Loan Program that is available for a number of cities in Cuyahaoga County. Call for additional information. 24/7 Info Line 800-686-3600 ext 225 or Contact Tim Bradford
2007 DOWN PAYMENT ASSISTANCE PARTICIPATING COMMUNITIES
BAY VILLAGE | FAIRVIEW PARK | MORELAND HILLS | ROCKY RIVER |
BEACHWOOD | GARFIELD HEIGHTS | NEWBURGH HEIGHTS | SEVEN HILLS |
BEDFORD | GATES MILLS | NORTH OLMSTED | SHAKER HEIGHTS |
BEDFORD HEIGHTS | GLENWILLOW VILLAGE | NORTH RANDALL | SOLON |
BENTLEYVILLE VILLAGE | HIGHLAND HEIGHTS | NORTH ROYALTON | SOUTH EUCLID |
BEREA | HIGHLAND HILLS | OAKWOOD VILLAGE | STRONGSVILLE |
BRATENAHL VILLAGE | LINNDALE | OLMSTED FALLS | UNIVERSITY HEIGHTS |
BROOK PARK | LYNDHURST | OLMSTED TOWNSHIP | VALLEY VIEW |
BROOKLYN | MAPLE HEIGHTS | ORANGE VILLAGE | WALTON HILLS VILLAGE |
BROOKLYN HEIGHTS | MAYFIELD HEIGHTS | PARMA | WARRENSVILLE HEIGHTS |
CHAGRIN FALLS TOWNSHIP | MAYFIELD VILLAGE | PARMA HEIGHTS | WESTLAKE |
CUYAHOGA HEIGHTS | MIDDLEBURG HEIGHTS | PEPPER PIKE | WOODMERE VILLAGE |
EUCLID |
| RICHMOND HEIGHTS |
|
There is a limit of 10 down payment assistance loans, per community, per calendar year.
Regular Loan $10,000 maximum Deferred with no time limit - 50% forgiven after 5 years of occupancy No forgiveness for less than 5 years Buyer must be a first time home buyer.
| Vacant/Abandoned Forgivable Loan $10,000 maximum 100% forgiven after 5 years of occupancy No forgiveness for less than 5 years Buyer must be first time home buyer. Home must be recognized as vacant/abandoned by the local building department. |
Diversity Opportunity Forgivable Loan $10,000 maximum 100% forgiven after 5 years of occupancy No forgiveness for less than 5 years Buyer must be a first time home buyer. The census tract where the home is located must have a current population less than the county-wide average of the race of the purchaser minus 15%, according to the most recent census data. (currently under 12.5% African American or Black & 51% non-African American or Black) |
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