City of Cincinnati American Dream Downpayment Initiative (ADDI)

City of Cincinnati American Dream Downpayment Initiative (ADDI) is a forgivable loan for homebuyers in Cincinnati, Ohio, administered by City of Cincinnati Department of Community and Economic Development (DCED). The City of Cincinnati's American Dream Downpayment Initiative (ADDI) provides down payment and closing cost assistance to lower- to middle-income first-time homebuyers purchasing a home within the City of Cincinnati limits. The assistance is structured as a five-year non-interest-bearing deferred forgivable loan. Down payment / closing cost assistance up to approximately $14,000 as a 5-year deferred, non-interest-bearing forgivable loan. Funding comes from Federal HUD funds (American Dream Downpayment Initiative / HOME) administered by the City of Cincinnati.

City of Cincinnati American Dream Downpayment Initiative (ADDI) offers up to $14,000 in assistance. Amounts are the program's published maximums, not an offer — City of Cincinnati Department of Community and Economic Development (DCED) determines any individual award.

City of Cincinnati American Dream Downpayment Initiative (ADDI) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Moving, selling, or transferring ownership during the 5-year period triggers full or partial recapture. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Cincinnati American Dream Downpayment Initiative (ADDI) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. 5-year deferred forgivable loan, forgiven after 5 years of residency; all or a portion is recaptured if the homeowner moves, sells, or transfers ownership during the 5-year period. Must be pre-approved for a mortgage before applying. Property must be a single-family home, condominium, cooperative unit, or manufactured housing within the City of Cincinnati limits. NOTE: assistance amount (~$14,000) and exact terms should be re-verified against the current official ADDI guidelines before borrower use; distinct from any generic statewide 'ADDI' entry as this is the Cincinnati city-administered program.

City of Cincinnati American Dream Downpayment Initiative (ADDI) limits household income to 80% of the area median income, which varies by county and household size. Household income must not exceed 80% of Area Median Income (AMI). First-time homebuyer required (must not have owned a home in the past 3 years). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Cincinnati American Dream Downpayment Initiative (ADDI) serves homebuyers purchasing in Cincinnati, Ohio.

Applications for City of Cincinnati American Dream Downpayment Initiative (ADDI) go through City of Cincinnati Department of Community and Economic Development (DCED), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.