For Homebuyers

WHY CHOOSE COMMUNITIES FIRST?

Communities First - Ohio offers simplified down payment assistance throughout the State.

Instant Equity

Borrower gets instant 3, 4, or 5% equity in the home (depending on rate and option).

Not a Second Mortgage

Because Communities First is a grant, there is no second mortgage placed on your property.

Fewer Restrictions

Communities First - Ohio offers no restrictions on reselling or refinancing home, and no minimum length of occupancy.

Income Limits Based on Individual

Communities First bases its income limits on the individual borrower rather than household income.

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Income Limits - Conventional Loans

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Income Limits - Government Loans

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WHAT IS THE PROCESS?

Communities First Process

AM I ELIGIBLE?

AM I ELIGIBLE?

3107 w 8th

To be Eligible, All Borrowers Must:

  1. Apply through a participating lender
  2. Meet standard industry guidelines
  3. Not exceed maximum income limits
  4. No DTI restriction with Approved/Accept AUS or LPA Eligible/Accept, as applicable
  5. Have a minimum FICO credit score of 620 (subject to change)
  6. Occupy the property as their principal residence within 60 days

ELIGIBLE PROPERTIES

Property Type

Single Family Residence
Duplex – Owner Occupied
Planned Unit Development
Townhome
Condo – US Bank Approved
Manufactured Home
Rental or Vacation Home
Co-op or Investment Home

Government Loans

Freddie Mac

*if LTV less than or equal to 97%