Greater Circle Living Home Purchasing Program (HPP)

What is Greater Circle Living Home Purchasing Program (HPP)?

Greater Circle Living Home Purchasing Program (HPP) is a forgivable loan for homebuyers in Cleveland, Ohio, administered by Fairfax Renaissance Development Corporation (Greater Circle Living).

• Greater Circle Living is a multi-anchor Employer-Assisted Housing program providing eligible employees of Greater University Circle institutions up to $20,000 (up to $30,000 with certain employers) in 0%, forgivable down-payment assistance to buy in one of nine designated neighborhoods. Forgiven 20%/yr over five years while the employee remains employed and occupies the home.
• Up to $20,000 (up to $30,000 with match).
• 0% interest.
• Forgiven over 5 years.
• Live near work.
• Combinable with city/county/lender DPA.
• Funding comes from Greater University Circle anchor institutions (CWRU, Cleveland Clinic, University Hospitals, Judson) and The Cleveland Foundation.

How much assistance does it provide?

Greater Circle Living Home Purchasing Program (HPP) offers up to $30,000 in assistance.

• Buyer contribution: Employee must provide at least 3% of total purchase price from own funds.
• The program can be combined with Can combine with CHN/Housing Partners, city, county, lender programs.
• Amounts are the program's published maximums, not an offer — Fairfax Renaissance Development Corporation (Greater Circle Living) determines any individual award.

Do you have to pay it back?

Greater Circle Living Home Purchasing Program (HPP) is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Selling, refinancing, or vacating before end of 5-year term; ceasing primary occupancy; or ceasing eligible employment. Forgiven 20%/yr over 5 years.
• 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.

Who qualifies?

Greater Circle Living Home Purchasing Program (HPP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Greater Circle Living Home Purchasing Program (HPP) limits household income to $150,000.

• 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.

What kind of home can it be used for?

Greater Circle Living Home Purchasing Program (HPP) can be used for Single Family, 2-4 Unit, Condo, and Townhouse.

• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Greater Circle Living Home Purchasing Program (HPP) is limited to employees of Case Western Reserve University, Cleveland Clinic, University Hospitals, Judson at University Circle, Cleveland VA Hospital.

• 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?

Greater Circle Living Home Purchasing Program (HPP) serves buyers purchasing in Cleveland, Ohio.

• The program targets specific areas: Greater University Circle target area (9 east-side neighborhoods).

How do you apply?

Applications for Greater Circle Living Home Purchasing Program (HPP) go through Fairfax Renaissance Development Corporation (Greater Circle Living), 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 8-hour HUD-approved homebuyer education by/approved by Fairfax Renaissance; alternatives via ESOP/Benjamin Rose.

2. 2

   Contact Fairfax Renaissance Development Corporation (Greater Circle Living) to reserve funds

   Funds are reserved through First-come, first-served upon approval and funding availability, 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.