The following Cities participate in a
program that is administered by the
Department of Development of Cuyahoga County
(
http://www.development.cuyahogacounty.us/en-US/down-payment-assistance.aspx
)
Commencing June 1,2009 the County Commissioners have approved
Neighborhood Housing Services (NHS)
to operate our down payment program.
For Homes in Cleveland check out the "Afford-A-Home" Program
Here are the Cities that participate in there Program and general
Information about their program.
Some cities have additional information and a link is provided for those cities.
Generally the funds available are up to the lesser of $10,000 or 17% of
the Sales Price.
Depending on the program in some conditions the Downpayment assistance is
forgivable
| 2011 Communities Served and Income Limits | ||||||||||||||||||||||||||||||||||||
2011 INCOME GUIDELINES
|
Eligible Communities - Bedford, Bedford Heights, Berea, Brook Park, Brooklyn, Garfield Heights, Glenwillow, Highland Heights, Linndale, Maple Heights, Newburgh Heights, Oakwood, Richmond Heights, Shaker Heights, South Euclid, University Heights, Warrensville Heights. |
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|
2008 thru 2010 Eligible Cities and Income Limits |
|||
| Bay Village
Beachwood Bedford Bedford Hts. Bentleyville Berea Bratenahl Village Broadview Heights Brook Park Brooklyn Brooklyn Hts. Chagrin Falls Twp Cleveland Heights* Cuyahoga Hts. |
Euclid*
Fairview Park Garfield Hts. Gates Mills Glenwillow Village Highland Hts. Highland Hills Independence Linndale Lyndhurst Maple Hts. Mayfield Hts. Mayfield Village |
Middleburg Hts.
Moreland Hills Newburgh Hts North Olmsted North Randall North Royalton Oakwood Village Olmsted Falls Olmsted Twp. Orange Village Parma* Parma Hts. Pepper Pike |
Richmond Hts.
Rocky River Seven Hills Shaker Hts. Solon South Euclid Strongsville University Hts. Valley View Walton Hills Warrensville Hts. Westlake Woodmere |
|
*limited funds available for these communities |
|||
Household Size 1 |
2008 Maximum Income $34,800 |
2009&2010 Maximum Income $36,300 |
|
The Down Payment Assistance Program is
available to income qualified first-time home buyers for the purchase
of a home in one of fifty-three (53) suburban communities. The Down
Payment Assistance program now offers three targeted assistance
programs to better serve the community at large. Watch our website for
our Vacant Land program offering.
Download the Trifold for Downpayment Assistance Program Brochure . |
WECO - Individual Development Accounts (IDA’s)
are leveraged savings and investment accounts restricted to high return investments in education, homeownership and business development. The following are eligible uses:Personal savings will be matched
$2 for every $1 with a ceiling of $1500 in match dollars. The match will be provided upon completion of all program requirements.Participants Savings Match Dollars Acquisition Purchase
$750 + $1,500
= $2,250PROGRAM GUIDELINES
1. Household Income (employment, self-employment and / or social
security).
|
Family Income Eligibility Guidelines |
|
| Family Size | Income Level |
| 1 | $21,660 |
| 2 | $29,140 |
| 3 | $36,620 |
| 4 | $44,100 |
| 5 | $51,580 |
| 6 | $59,060 |
| 7 | $66,540 |
| 8 | $74,020 |
| Based on 2009 HHS Federal Poverty Guidelines | |
2.
Mandatory monthly savings -Participants are required to make regular monthly deposits to grow their accounts.3.
Mandatory attendance at monthly financial education classes - Participants will be required to attend a series of financial education classes. IDA participants will gain knowledge and participate in interactive learning, and networking.4.
Mandatory asset development counseling - All participants will be required to meet with a program counselor in order to develop and maintain a personalized asset development plan (includes asset goal, budget, and timeline).