Homeport Growing Homeownership Fund

Homeport Growing Homeownership Fund is a forgivable loan for homebuyers in Columbus, Ohio, administered by Homeport (Columbus Housing Partnership Inc.). The Growing Homeownership Fund (GHF) is a down payment assistance program administered by Homeport for first-time homebuyers in Franklin County, Ohio. It offers up to $15,000 or 5% of the home's purchase price (whichever is less) as a 0% interest forgivable loan, provided as a 5:1 match to down payment savings documented in the borrower's personal savings. Funds may be used for down payment, closing costs, prepaid escrows, permanent rate buy-downs, up to $1,000 appraisal gap, and up to $1,000 in documented home repair costs. Up to $15,000 or 5% of purchase price. 0% interest, forgivable after a period of owner-occupancy. Stackable with OHFA, Franklin County, or lender programs. Covers down payment, closing costs, prepaid escrows, rate buy-downs, appraisal gap, and home repairs. Works with conventional, FHA, VA, and USDA first mortgages. Funding comes from Philanthropic/coalition-funded nonprofit down payment assistance fund (CONVERGENCE Columbus / Homeport; bank, foundation, and municipal contributions).

Homeport Growing Homeownership Fund offers up to $15,000 in assistance. Homebuyer contribution: Assistance is provided as a 5:1 match to the down payment documented in the borrower's personal savings (borrower must document savings equal to at least 1/5 of the assistance). For 2-4 unit purchases, a 5% minimum borrower contribution from the borrower's own funds is required. The program can be combined with Ohio Housing Finance Agency (OHFA) programs, Franklin County programs, and proprietary lender programs. Amounts are the program's published maximums, not an offer — Homeport (Columbus Housing Partnership Inc.) determines any individual award.

Homeport Growing Homeownership Fund is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Due and payable upon sale or transfer of title, or if the property ceases to be the borrower's primary residence, during the forgiveness/occupancy period. Land contract agreements are not eligible. The assistance is recorded in Second (or as approved by administrator); any additional lender deferred-loan assistance must be in third position position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Homeport Growing Homeownership Fund is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Homeport (HUD-certified housing counseling agency); homebuyer education must be completed within the last year (8 hours from a HUD-certified agency; no Fast Track/Quick Start certificates). Residency requirement: Applicant must be a current Franklin County resident; purchased property must be located in Franklin County. Borrower must complete Homeport-recognized homebuyer education within the last year (8 hours from a HUD-certified agency). Assistance is a 5:1 match to documented personal down payment savings. Land contracts and seller financing are not eligible. NOTE: exact forgiveness/occupancy term in years for the general GHF, minimum credit score, and max DTI are not published on the official program page; verify with Homeport. The race-restricted Maude Hill Growing Homeownership Fund (140% AMI, 3-year forgiveness SPCP) is a distinct sub-fund and is NOT this program.

Homeport Growing Homeownership Fund limits household income to 120% of the area median income, which varies by county and household size. Household income at or below 120% of the Area Median Income (AMI) for the Columbus MSA, as determined by HUD, adjusted for family 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.

Homeport Growing Homeownership Fund can be used for Single Family, Condo, and 2-4 Unit. New construction is eligible. Manufactured homes are not eligible.

Homeport Growing Homeownership Fund serves homebuyers purchasing in Columbus, Ohio.

Applications for Homeport Growing Homeownership Fund go through Homeport (Columbus Housing Partnership Inc.), which publishes the current terms and the application steps on its own site. 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.