City of Warren Direct Homebuyer Assistance Program (DPA)

City of Warren Direct Homebuyer Assistance Program (DPA) is a forgivable loan for homebuyers in Warren, Ohio, administered by City of Warren Community Development Department. The City of Warren uses HUD HOME funds to provide direct homebuyer (down payment) assistance to low- to moderate-income buyers purchasing City-owned properties in Warren, Ohio. The City pays half the required down payment plus up to $3,500 closing, total not to exceed $25,000 based on need, as a 0% deferred forgivable second mortgage forgiven after 5 or 10 years. Buyers complete 8 hours of HUD-approved counseling, must not currently own a home, be at/below 80% AMI, and use a fixed-rate 30-year mortgage. Up to $25,000 assistance. 0% interest, no monthly payments. Forgivable after 5- or 10-year affordability period. Free 8-hour HUD counseling. Funding comes from HUD HOME Investment Partnerships Program / Warren-Trumbull HOME Consortium.

City of Warren Direct Homebuyer Assistance Program (DPA) offers between $1,000 and $25,000 in assistance. Homebuyer contribution: Homebuyer provides one-half of required down payment; minimum $1,000 buyer cash. 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 Warren Community Development Department determines any individual award.

City of Warren Direct Homebuyer Assistance Program (DPA) is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, ceasing to use as principal residence, failure to maintain property/taxes/insurance during the affordability period. 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 Warren Direct Homebuyer Assistance Program (DPA) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Applicants must not currently own a home. On credit, the program states: No published minimum; must obtain adequate primary mortgage financing. A homebuyer education course is required, through 8 hours HUD-approved homebuyer counseling, free. Residency requirement: Property must be a City-owned property within the City of Warren, OH. Citizenship or immigration status: All household members U.S. citizens or eligible immigration status. Scoped to SALE OF CITY-OWNED PROPERTIES. DEDUPE: administered through Warren-Trumbull HOME Consortium (in catalog) but a distinct city-run program with its own published policies — confirm not a functional duplicate before publishing.

City of Warren Direct Homebuyer Assistance Program (DPA) limits household income to 80% of the area median income, which varies by county and household size. Gross household income at/below 80% HUD AMI, Youngstown-Warren-Boardman MSA. 2024: 1p $53,050; 2p $60,600; 3p $68,200 (table continues). 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 Warren Direct Homebuyer Assistance Program (DPA) caps the purchase price as follows: Assistance is lower of half required down payment plus up to $3,500 closing, not to exceed $25,000; for sale of City-owned properties. Eligible property types include Single Family. New construction is not eligible. Manufactured homes are not eligible.

City of Warren Direct Homebuyer Assistance Program (DPA) serves homebuyers purchasing in Warren, Ohio.

Applications for City of Warren Direct Homebuyer Assistance Program (DPA) go through City of Warren Community Development Department, 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.