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Toledo creates down payment assistance program for first-time home buyers

A report from the nonpartisan Legislative Audit Bureau said all state-owned residential properties that are leased to state employees hasn't been properly tracked. (Photo: MGN)
A report from the nonpartisan Legislative Audit Bureau said all state-owned residential properties that are leased to state employees hasn't been properly tracked. (Photo: MGN)(NBC15)
Published: Jul. 1, 2020 at 2:16 PM EDT
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Toledo has created a “Home at Last" program, which offers down payment assistance for eligible first-time home buyers.

“As we continue to deal with the challenges of COVID-19, and issues of

social justice nationwide, we also want to commemorate National

Homeownership Month, and the important role homeownership plays in

our city,” Mayor Kapszukiewicz said. “The Home at Last Program is

another tool this administration is using to assist our residents, and to

create and sustain healthy neighborhoods. This program follows the

implementation of the Emergency Microenterprise Recovery Grant

to aid in the economic recovery of microenterprises negatively impacted

by COVID-19 and the Emergency Rental Assistance Fund to help

renters.”

“First-time home buyers whose income falls below the threshold are

eligible for up to $7,500 to use toward the purchase of a home, and up to $9,500 in target neighborhoods,” Ms. Clemens said. “This program is

designed to help income-eligible residents who have never owned a home get over the finish line with down payment and closing assistance. We are striving to make sure eligible residents have access to the American Dream of homeownership.”

The program requirements include:

 The buyer must not have purchased or owned a home during the

past three years.

 Existing residential property must be decent, safe, and sanitary.

 Single-family or condominium homes only.

 Homebuyers must make a minimum $500 contribution, which

includes payment of a required home inspection.

 Homeownership counseling must be received as first step in the

process from a HUD-approved agency.

 Home At Last application submitted by a participating lender with

assistance provided as a grant at closing on the home purchase.

 Visual paint inspection by a licensed lead risk assessor will be

provided by the City.

More information can be found at toledo.oh.gov/home-at-last.

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