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.

Grants-Down Payment/Closing Cost Assistance 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.

Grants-Down Payment/Closing Cost Assistance 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 NHS Hamilton HUD-approved homebuyer education plus one-on-one counseling required. Residency requirement: Property within City of Hamilton, OH (Butler County) corporate limits, owner-occupied. Citizenship or immigration status: U.S. citizen or qualifying permanent resident. First-time homebuyer. Property within City of Hamilton, OH (Butler County) corporate limits. <=80% AMI Cincinnati MSA (Butler County): $62,650-$118,100 by household size. Maximum purchase price $228,000-$326,000. NHS Hamilton homebuyer education required. Minimum $1,000 borrower contribution. NOTE: NHS Hamilton serves Hamilton, OHIO (Butler County) — NOT Cincinnati's Hamilton County.

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&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.

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.

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.

Grants-Down Payment/Closing Cost Assistance serves homebuyers purchasing in Hamilton, Ohio. The program targets specific areas: City of Hamilton CDBG-eligible neighborhoods.

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. Funds are reserved through Apply via NHS Hamilton. 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.