First Time Home Buyer Assistance
There is first time home buyer assistance available in many forms, you just need to know where to look. For example, first time home buyers are getting some help from the Lorain County Community Action Agency in Ohio.
The agency’s Housing Services Department has launched the Individual Development Down Payment Assistance Program, which will help 40 households by the end of the year save for the down payment on a house. The program is funded by a grant from the Ohio Department of Development’s Ohio Housing Community Partnership Program.
Participants in this program open an Individual Development Account for their down payment savings, which will be matched $2 for every $1 deposited. The maximum match is $2,000. Clients are allowed to save more if they are able to, said Diana Marrero-Pinto, director of housing services for LCCAA. There is no deadline on when the money can be spent.
The match is given upon completion all of the program requirements, which include a series of financial education classes covering subjects such as repairing and building credit, homeownership and home-buying and budgeting.
KeyBank and Dollar Bank are providing the IDA services.
Applications currently are being accepted. Participants must meet income guidelines, which can be no more than 65 percent of HUD low-moderate income guidelines. For more information, call (440) 204-3155.
Related posts:
- First Time Home Buyer Grants
- No Down Payment Home Buyer Program
- Grant Money for First Time Home Buyers
- First Time Homebuyer Assistance
- Home Rehab and First-Time Homebuyers Funds Available
