The Mayor's Neighborhood Transformation Initiative DPA is an effort to support the Glenville-Circle North neighborhood of Cleveland. Eligible homeowners are able to qualify for a 5-year, 0% interest forgivable loan.
About the Program
Eligible borrowers can qualify for down payment assistance in the amount of $20,000 for a new-construction or newly-renovated home in the Glenville-Circle North neighborhood.
The 0% interest deferred, subordinate mortgage is forgiven 20% each year throughout its five year term. During this time, the borrower(s) must occupy the property as their primary residence.
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. Download the program qualifications and document checklist for more information.
How to Apply
Step 1: Download and review the full program qualifications.
Step 2: Download and review the document checklist for documents you'll need to complete your application.
Step 3: Download, print and fill out the program's application.
Step 4: Return your completed application and documents to CHN.
You may email your completed application to firstname.lastname@example.org.
You may also drop off your completed application in the Sales and Lending drop box on the first floor of our office (near the elevator) located at:
2999 Payne Ave
Cleveland, OH 44114