Photo courtesy of Knez Homes
Mayor’s Neighborhood Transformation Initiative Down Payment Assistance Program
Qualify for up to $20,000 to purchase your new home! The Mayor's Neighborhood Transformation Initiative DPA is an effort to support the Glenville-Circle North neighborhood of Cleveland.
We believe homeownership should be within reach for every family.
About the Program
Eligible Homes
Eligible homes must be located in the Glenville-Circle North neighborhood of Cleveland.
Homes must be fully-renovated or new construction.
Eligible Buyers
There are no income restrictions for buyers to participate.
Buyers must be bankable and have the ability to secure a first mortgage from a private lender.
Buyers must occupy the home for a period of five years after the sale.
The $20,000 down payment assistance will be provided to the buyer as a 0% deferred second mortgage which will be forgiven after 5 years.
Borrowers must contribute to the transaction:
Income below or at 120% AMI = 3%.
Greater than 120% AMI = 5%.
Further program qualifications and eligibility requirements apply.
Eligible developments in Glenville-Circle North are constructed and renovated by the organizations below.
New construction: Knez Homes and the Orlean Company.
Renovated homes: Famicos Foundation