City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program is a forgivable loan for homebuyers in Cleveland, Ohio, administered by CHN Housing Capital (CHN Housing Partners) on behalf of the City of Cleveland. The City of Cleveland's Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program provides eligible homebuyers $20,000 toward the purchase of a new-construction or newly renovated home in the Glenville/Circle North target neighborhood. The assistance is a 0% interest deferred second mortgage forgiven after five years of owner-occupancy. Buyers at or below 120% AMI contribute 3% of the purchase price; buyers above 120% AMI contribute 5%. Administered by CHN Housing Capital / Believe Mortgage. $20,000 in down payment assistance. 0% interest. Fully forgiven after 5 years of owner-occupancy. No monthly payments (deferred second mortgage). Supports purchase of new or newly renovated homes in a revitalizing neighborhood. Funding comes from City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI).

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program offers up to $20,000 in assistance. Homebuyer contribution: Borrowers at or below 120% AMI contribute 3% of the purchase price; borrowers above 120% AMI contribute 5%. Amounts are the program's published maximums, not an offer — CHN Housing Capital (CHN Housing Partners) on behalf of the City of Cleveland determines any individual award.

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Loan is forgiven after 5 years of owner-occupancy; if the home is sold, transferred, or ceases to be the borrower's primary residence within 5 years, the outstanding amount becomes due (deferred second mortgage). The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through CHN Housing Partners or any HUD-certified housing counseling agency. Place-based: applies only to new-construction or newly renovated homes in the Glenville/Circle North NTI target area. Buyer contribution tiered to AMI (3% at/below 120% AMI; 5% above). Funding/active status should be re-verified directly with CHN before publishing (no standalone current term sheet located).

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program sets its income limit as follows: No hard income cap published; buyer contribution is tiered to AMI (3% at/below 120% AMI; 5% above 120% AMI). The limit applies to total household income, not only the borrower’s. 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 Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program can be used for Single Family. New construction is eligible.

City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program serves homebuyers purchasing in Cleveland, Ohio. The program targets specific areas: Glenville / Circle North neighborhood (designated NTI target geography in the City of Cleveland). Targeted neighborhoods: Glenville-Circle North.

Applications for City of Cleveland Mayor's Neighborhood Transformation Initiative (NTI) Down Payment Assistance Program go through CHN Housing Capital (CHN Housing Partners) on behalf of the City of Cleveland, 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.