Grants-Down Payment/Closing Cost Assistance

What is Grants-Down Payment/Closing Cost Assistance?

Grants-Down Payment/Closing Cost Assistance is a deferred second loan for homebuyers in Hamilton, Ohio.

• NHS Hamilton Grants-DPA/CC: $10,000 5-year forgivable second mortgage / grant for FTHBs within City of Hamilton, OH (Butler County). HUD-approved counseling agency administering CDBG/HOME funds.
• Up to $10,000 in down payment and closing cost assistance for first-time homebuyers purchasing in the City of Hamilton, OH (Butler County). Structured as a 5-year forgivable second mortgage / grant administered by Neighborhood Housing Services of Hamilton, Inc. (NHS Hamilton). City of Hamilton CDBG/HOME-funded.
• Funding comes from Local, City, CDBG, and HOME.

Do you have to pay it back?

Grants-Down Payment/Closing Cost Assistance is forgiven after 5 years, so a buyer 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.

Who qualifies?

Grants-Down Payment/Closing Cost Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Grants-Down Payment/Closing Cost Assistance limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% Cincinnati MSA AMI: $62,650-$118,100 by household size.
• The limit applies to total household income, not only the borrower’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.

What kind of home can it be used for?

Grants-Down Payment/Closing Cost Assistance caps the purchase price at $326,000.

• Eligible property types include Single-family detached, condo, townhouse, 1-2 unit owner-occupied.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Grants-Down Payment/Closing Cost Assistance 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.

Where does it apply?

Grants-Down Payment/Closing Cost Assistance serves buyers purchasing in Hamilton, Ohio.

• The program targets specific areas: City of Hamilton CDBG-eligible neighborhoods.

How do you apply?

Applications for Grants-Down Payment/Closing Cost Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through NHS Hamilton HUD-approved homebuyer education plus one-on-one counseling required.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply via NHS Hamilton, and are subject to availability.

3. 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.