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American Dream Down Payment Initiative | Columbus Department Of Development

111 North Front Street, 3rd Floor, Columbus, OH 43215

Eligibility

First-time home buyers. Must be at 80% or the median income as defined by the US Department of Housing and Urban Development. Must complete home buyer education classes. Must purchase a single family home or condominium in the City of Columbus, Columbus City School District.

Required documents

Telephone for specific required document information. Certificate of Completion for home buyer education program.

Hours

Mon-Fri 8 am-5 pm.

Languages

None.

Application process

Telephone for information.

Fees

Vary.

Service area

Columbus, Ohio

Description

Assists low and moderate income households finance the acquisition of a first home in the City of Columbus, Columbus City Schools. ADDI is a five year deferred forgivable loan. The buyer must reside in the property for five years after the closing date or the funds must be repaid to the City. The property is unable to be sold, rented, or transferred during these five years and must remain as the sole residence of the buyer. After the five years, the mortgage and restrictive covenant are released on the property and the loan is forgiven.

Data provided by

LSS 211 Central Ohio

Providing organization

Columbus Department Of Development

City department that facilitates economic opportunity and neighborhood revitilization efforts in City of Columbus.