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$5,000 for Your Own Picket Fence (& House)

By Dawn Maloney

Real Estate Agent with RE/MAX Trinity Northeast Ohio Real Estate Specialist 2003008108

May 05, 2009 03:48 PM

$5,000 Summit County Welcome Home Program is here!

Would you like additional funds to make your dream of owning a home a reality?

Here you are!!

Time for a picket fence~! The Welcome Home Program officially opened May 1^st and allows for a $5,000 grant to be used towards down payment and/or closing costs.

The program funds are available on a first come first serve basis and Valley Savings Bank anticipates funds to be available for applications taken in May and June.

A minimum of four weeks is needed for approval so contracts should be 30-45 days.

It is the opinion of the Federal Home Loan Bank of Cincinnati that a borrower that receives Welcome Home funds is still eligible for the $8,000 tax credit for first time home buyers....WOW!

Here are the program guidelines:

VALLEY SAVINGS BANK WELCOME HOME PROGRAM

Purchase only (does not have to be first time)
1-4 family-owner occupied
Grant of $5,000 (maximum) towards down payment and/or closing costs
Minimum borrower investment, 3% & 2 month's reserves
Borrower must attend a homeowner counseling session
Borrower must meet income requirements*
Subject to MI Approval when applicable

*Adjusted Income Limits for Summit County

Small Household (1 or 2 persons) $49,360
Large Household (3 or more persons) $56,764

Thanks to Lori Fetter, Chicago Title, for the heads up!!

Dawn Maloney, REALTOR®, ABR, with RE/MAX Commitment.

Serving Hudson and Northeast Ohio since 2003, Call 330-990-4236.

www.DawnSold.com

Your Referrals Are Treated With Skilled Care & Appreciation!

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Dawn Maloney

RE/MAX Trinity Northeast Ohio Real Estate Specialist - Hudson, OH

330-990-4236 Hudson & Northeastern Ohio

These funds will go quickly. Call today to find out if you qualify. What could be better? Great programs, great rates, great incentives, great prices.

May 05, 2009 04:00 PM

Liz Moras Migic

Chilliwack, BC

Chilliwack, British Columbia - Realtor

Love your background photo. I once had my dream white picket fence............it meant a lot of whitewashing with Huck and Tom every summer! :-)

May 05, 2009 04:18 PM

Liz, glad you enjoyed it...I was looking for some inspiration from my vast library of pix that I can't use for anything else...gotta love your own clipart...I love fences!

May 05, 2009 04:22 PM

Barb Szabo, CRS

RE/MAX Above & Beyond - Cleveland, OH

E-pro Realtor, Cleveland Ohio Homes

Dawn, I had a buyer get approved for the Parma grant money but lost it because she did not buy fast enough and I know this is available in Cuyahoga County as well so I am hopeful she'll be able to buy now.

May 05, 2009 10:24 PM

Bill Somerset

Re/Max Realty Group - Dover, NH

ABR, e-PRO - Realtor - NH Real Estate Agent

That seems like a great program Dawn. Portsmouth NH has a similar program to help enable home buyers to stay in the area.

May 06, 2009 12:49 AM

Mary Douglas

United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO

REALTOR, Red Feather Lakes, Colorado

Hi Dawn, an additional 5K is a great incentive to buy now. WOW is right, if you were a first time homebuyer and could also qualify for the $8,000! Great post, I hope people take advantage of this opportunity!

May 06, 2009 10:59 AM

Barb, I hope so! These programs are such a benefit, but buyers can't delay - it's first come, first to get the bucks!

Caren, I wish I would have thought of the sitting on the fence idea - good word play!

Bill, that is great! I hope the word is getting out!

Mary, yes it is! On a lot of properties in our market, one could have a 20% down payment with these numbers and get a very worthwhile house that doesn't need a ton of work!!

May 07, 2009 05:26 AM

Sandy Shores FL Realtor®, Melbourne Real Estate

M & M Realty of Brevard Inc. - Melbourne, FL

Brevard County Real Estate, Florida's Space Coast

Hi Dawn, So many great programs available today! Sounds great -it truly is a great time to buy real estate.

May 20, 2009 04:35 AM

$5,000 for Your Own Picket Fence (& House)

It is the opinion of the Federal Home Loan Bank of Cincinnati that a borrower that receives Welcome Home funds is still eligible for the $8,000 tax credit for first time home buyers....WOW!

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Dawn Maloney

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