Franklin County Downpayment Assistance Program

Franklin County Downpayment Assistance Program is a deferred second loan for homebuyers in Multiple, Ohio. Homeport-administered Franklin County DPA: $10,000 5-year forgivable second for FTHBs in Franklin County outside City of Columbus. Up to $10,000 in down payment and closing cost assistance for first-time homebuyers purchasing in Franklin County (outside City of Columbus, which has its own ADDI program). 0% interest 5-year forgivable second mortgage administered by Homeport — central Ohio's largest non-profit homeownership and affordable housing developer. Funding comes from Local, County, CDBG, and HOME.

Franklin County Downpayment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Pro rata recapture if owner sells/refinances/vacates within 5 years. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Franklin County Downpayment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Standard HUD HOME FTHB waivers. On credit, the program states: 640 minimum FICO recommended. A homebuyer education course is required, through Homeport HUD-approved homebuyer education plus one-on-one counseling required. Residency requirement: Property in Franklin County (outside Columbus city limits), owner-occupied. Citizenship or immigration status: U.S. citizen or qualifying permanent resident. First-time homebuyer. Property in Franklin County (outside City of Columbus). <=80% AMI Columbus MSA: $69,500-$131,000 by household size. Homeport homebuyer education required. Minimum $1,000 borrower contribution.

Franklin County Downpayment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% Columbus MSA AMI: $69,500-$131,000 by household size. The limit applies to total household income, not only the borrower&rsquo;s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Franklin County Downpayment Assistance Program caps the purchase price as follows: Per HUD HOME 95% area median sales price for Franklin County. Eligible property types include Single-family detached, condo, townhouse, 1-2 unit owner-occupied. New construction is eligible. Manufactured homes are not eligible.

Franklin County Downpayment Assistance Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses 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.

Franklin County Downpayment Assistance Program serves homebuyers purchasing in Multiple, Ohio.

Applications for Franklin County Downpayment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply via Homeport. 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.