Coshocton County CHIP Homebuyer Assistance

Coshocton County CHIP Homebuyer Assistance is a forgivable loan for homebuyers in Coshocton, Ohio, administered by Ohio Regional Development Corporation (ORDC) / Lassiter Consulting Group; Ohio Department of Development CHIP. Coshocton County and the City of Coshocton's Community Housing Improvement Program (CHIP), administered by Ohio Regional Development Corporation, includes a Homebuyer Assistance activity providing down payment and closing-cost grants of $1,000-$5,000 to low- and moderate-income households buying a modest, affordable single-family home as their principal residence. Funds may be used for down payment, appraisal, closing costs, or other purchase fees, and buyers receive about 7 hours of homeownership counseling. Assistance is secured by a 10-year promissory note with sliding-scale recapture. Down payment / closing cost grant of $1,000-$5,000. ~7 hours homeownership counseling. Can combine with FHA, VA, FMHA or private financing. Eligible for owner-rehab funds up to $30,000 for repairs. Funding comes from HUD CHIP via Ohio Department of Development.

Coshocton County CHIP Homebuyer Assistance offers between $1,000 and $5,000 in assistance. Homebuyer contribution: Grantee must contribute a minimum of $500 of their own funds. Amounts are the program's published maximums, not an offer — Ohio Regional Development Corporation (ORDC) / Lassiter Consulting Group; Ohio Department of Development CHIP determines any individual award.

Coshocton County CHIP Homebuyer Assistance is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by 10-year promissory note; sliding-scale repayment if sold/vacated before note expires; 15% repayment if vacated/transferred after 10 years; plus recording/release fees. The assistance is recorded in Subordinate (recorded mortgage / 10-year promissory note) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Coshocton County CHIP Homebuyer Assistance is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through ~7 hours counseling (budgeting, home maintenance, lending, fair housing). Residency requirement: Property in Coshocton County / City of Coshocton CHIP service area. Field notes — Ratio/DTI note: PITI cannot exceed 30% of gross monthly income. Administered by Ohio Regional Development Corp (740) 622-0529. Funds limited and competitive at the local level. Confirm current availability of the homebuyer activity with the local CHIP office, as CHIP activities vary by program cycle.

Coshocton County CHIP Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household size. 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.

Coshocton County CHIP Homebuyer Assistance can be used for Single Family, Condo, 2-4 Unit, and Manufactured. Manufactured homes are eligible.

Coshocton County CHIP Homebuyer Assistance serves homebuyers purchasing in Coshocton, Ohio.

Applications for Coshocton County CHIP Homebuyer Assistance go through Ohio Regional Development Corporation (ORDC) / Lassiter Consulting Group; Ohio Department of Development CHIP, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served when funds available. 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.