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