Wood County CHIP Homebuyer Assistance

Wood County CHIP Homebuyer Assistance is a forgivable loan for homebuyers in Wood County, Ohio, administered by Wood County Planning Commission (with Poggemeyer Design Group); Ohio Department of Development CHIP. Wood County's Community Housing Improvement Program (CHIP), funded by HUD through the Ohio Department of Development, includes a Homebuyer Assistance activity that provides down payment and closing-cost assistance to low- and moderate-income households purchasing a modest, affordable single-family home as their primary residence. Grants range from $1,000 to $5,000 and may cover down payment, appraisal, closing costs, and other purchase-related fees. Applicants must live within a Wood County township, village, or the City of Rossford and qualify as low- to moderate-income. Down payment / closing cost grant of $1,000-$5,000. Can be combined with FHA, VA, USDA/FMHA or other financing. May pair with owner-rehabilitation funds for repairs. Funding comes from HUD CHIP (Community Housing Improvement Program) via Ohio Department of Development.

Wood County CHIP Homebuyer Assistance offers between $1,000 and $5,000 in assistance. Homebuyer contribution: Grantee must contribute a minimum of $500 of their own funds toward the purchase. Amounts are the program's published maximums, not an offer — Wood County Planning Commission (with Poggemeyer Design Group); Ohio Department of Development CHIP determines any individual award.

Wood County CHIP Homebuyer Assistance is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Secured by a 10-year promissory note/mortgage; repay a percentage of the grant if home is sold/vacated before the note expires; pay back 15% of grant if vacated/transferred after the 10-year note expires; plus mortgage recording and release fees. The assistance is recorded in Subordinate (secured by recorded mortgage / 10-year promissory note) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Wood County CHIP Homebuyer Assistance is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Approximately 7 hours of housing counseling (budgeting, home maintenance, lending, fair housing). Residency requirement: Property within Wood County townships, villages, or City of Rossford (excludes City of Bowling Green). Field notes — Ratio/DTI note: PITI cannot exceed 30% of gross monthly income. Applicants must reside within a Wood County township, village, or the City of Rossford (excludes City of Bowling Green). Funds are limited and competitive at the local level; applications considered first-come, first-served when open. Administered with Poggemeyer Design Group.

Wood County CHIP Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household 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.

Wood County CHIP Homebuyer Assistance can be used for Single Family, Condo, 2-4 Unit, and Manufactured. Manufactured homes are eligible.

Wood County CHIP Homebuyer Assistance serves homebuyers purchasing in Wood County, Ohio.

Applications for Wood County CHIP Homebuyer Assistance go through Wood County Planning Commission (with Poggemeyer Design Group); Ohio Department of Development CHIP, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served when program funds are available. 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.