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City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund

City of Columbus Department of Development, Division of Housing · Columbus, Ohio

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Assistance

$14,999

The maximum the program publishes — not an offer

Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund is a forgivable loan for homebuyers in Columbus, Ohio, administered by City of Columbus Department of Development, Division of Housing.

  • The City of Columbus ADDI Program assists low- and middle-income households finance the acquisition of a first home within the City of Columbus corporation limits. It provides a five-year deferred forgivable loan toward the required down payment, reasonable closing costs, and/or a reduction in the principal mortgage amount. Funds come from the non-federal Neighborhood Economic Development (NED) Fund.
  • Up to 6% of the purchase price (maximum $14,999) as a 5-year deferred forgivable loan toward down payment, closing costs, and/or principal reduction.
  • Funding comes from City of Columbus Neighborhood Economic Development (NED) Fund (non-federal).

How much assistance does it provide?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund offers up to $14,999 in assistance.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — City of Columbus Department of Development, Division of Housing determines any individual award.

Do you have to pay it back?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale, rental, transfer, refinance, or ceasing to occupy as principal residence before the end of the occupancy term; funds repaid from net proceeds of sale.
  • 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.

Who qualifies?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • Buyer must reside in the property for 5 years (longer occupancy terms of 10 or 15 years may apply for larger amounts) or funds must be repaid from net sale proceeds; property cannot be sold, rented, or transferred during the term and must remain the principal residence. Application is completed by an approved participating lender (lender must have a Lender Participation Agreement and complete ADDI training). Minimum 6 months Ohio residency and U.S. permanent residency required. Buyer must contribute $500 of own funds and show $500 post-closing access. Post-closing asset limit of $10,000 in cash/cash equivalents (excluding 401k/pension). Decent, Safe and Sanitary inspection required. Columbus Department of Development employees are ineligible. NOTE: distinct from any generic statewide 'ADDI' entry - this is the city-administered, NED-funded Columbus program. Per program FAQ, can be stacked with other DPA programs as long as City funds are not part of the other program.

The program excludes

  • Households above 120% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund limits household income to 120% of the area median income, which varies by county and household size.

  • Household income at or below 120% of area median income (AMI) adjusted for household size as determined by HUD for the Columbus MSA. Buyers at or below 30% AMI considered case-by-case. HOME-funded projects must be at or below 80% AMI. Housing expense (PITI) ratio must not exceed 35% and total debt ratio must not exceed 45% (higher considered case-by-case).
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund caps the purchase price as follows: No fixed dollar cap, but purchase price cannot exceed fair market value per the Uniform Residential Appraisal Report (URAR); buyer must cover any gap above appraised value with own funds.

Is there eligibility for specific groups?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund names veterans among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund serves buyers purchasing in Columbus, Ohio.

How do you apply?

Applications for City of Columbus American Dream Downpayment Initiative (ADDI) - NED Fund go through City of Columbus Department of Development, Division of Housing, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact City of Columbus Department of Development, Division of Housing to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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