Home at Last Program Announced
Toledo Mayor Wade Kapszukiewicz and Neighborhoods Director Rosalyn Clemens announced the creation of the city’s “Home at Last Program,” which offers down payment assistance for eligible first-time home buyers, during a news conference today in front of 20 Dunderry Lane. The program is being launched to commemorate National Homeownership Month.
“As we continue to deal with the challenges of COVID-19, and issues of social justice nationwide, we also want to commemorate National Homeownership Month, and the important role homeownership plays in our city,” Mayor Kapszukiewicz said. “The Home at Last Program is another tool this administration is using to assist our residents, and to create and sustain healthy neighborhoods. This program follows the implementation of the Emergency Microenterprise Recovery Grant to aid in the economic recovery of microenterprises negatively impacted by COVID-19 and the Emergency Rental Assistance Fund to help renters.”
“First-time home buyers whose income falls below the threshold are eligible for up to $7,500 to use toward the purchase of a home, and up to $9,500 in target neighborhoods,” Ms. Clemens said. “This program is designed to help income-eligible residents who have never owned a home get over the finish line with down payment and closing assistance. We are striving to make sure eligible residents have access to the American Dream of homeownership.”
The program requirements include:
- The buyer must not have purchased or owned a home during the past three years.
- Existing residential property must be decent, safe, and sanitary.
- Single-family or condominium homes only.
- Homebuyers must make a minimum $500 contribution, which includes payment of a required home inspection.
- Homeownership counseling must be received as first step in the process from a HUD-approved agency.
- Home At Last application submitted by a participating lender with assistance provided as a grant at closing on the home purchase.
- Visual paint inspection by a licensed lead risk assessor will be provided by the City.
More information can be found at Down Payment Assistance.