City of Euclid First Time Home Buyer Down Payment Assistance Loan Program

Location

OH

Type

Forgivable assistance

Max assistance

$10,000

Income limit

$72,300

First-time buyer

Required

Property types

Single family, Condo, Townhouse

A City of Euclid first-time homebuyer DPA program administered by Euclid Development Corporation (EDCOR), funded by the federal HOME grant. Eligible owner-occupant buyers receive a deferred, 0% interest loan of up to 17% of the purchase price, capped at $10,000, recorded as a second mortgage. The loan is forgiven to 50% after five years of owner occupancy, with the remainder recaptured upon resale or transfer. Buyers must complete HUD-approved counseling, contribute at least 3.5% of the price, and buy a single-family home, attached single-family home, or condominium in Euclid.

Program details are sourced from public agency data and may change. Confirm eligibility with a Hey Prescott loan officer before applying.