Down Payment Assistance

Communities First Ohio - Down Payment Assistance Made Simple

Communities First Raster

The Port is proud to offer the Communities First - Down Payment Assistance program, providing first mortgage financing and down payment / closing cost assistance grants to eligible homebuyers. The Port created Communities First - Ohio as part of a commitment to increasing homeownership opportunities for residents in Ohio.

What are the Highlights?

Not a Second Mortgage

Because Communities First is a grant, not a loan, there is no second mortgage on your home.

Fewer Restrictions

Additionally, because Communities First is a grant, there are no restrictions on reselling your home or refinancing your mortgage.

Instant Equity

With a grant, the borrower receives instant equity in their new home.

Based on Borrower Income

Income limits are based only on the borrower, not the household.

Less Paperwork

No paperwork for the lender, no TRID, and no documents to record or a second mortgage to sell to the servicer.

Increased Flexibility

3, 4, or 5% down payment assistance options allow homebuyer more flexibility to choose only what they need to keep interest rates low.

Impact of Communities First

through 2019

$460,000,000+Loan Volume

3,900+Homebuyers Assisted

80Participating Lenders across Ohio

Am I Eligible?

To be eligible, all borrowers must:

  1. Apply through a participating lender.
  2. Meet standard industry guidelines.
  3. Not exceed maximum income limits.
  4. Have a maximum debt-to-income ratio of 45% (subject to change).
  5. Have a minimum FICO credit score of 640 (subject to change).
  6. Occupy the property as their principal residence within 60 days.