Butler County Ohio Down Payment Assistance

Down payment assistance in Butler County Ohio is provide by Neighborhood Housing Services of Hamilton which can be reached at (800) 525-5420. If you would like to discuss your options for a mortgage, which can utilize down payment assistance, then please contact me in the office at 513-777-8383. I am always available to discuss mortgage options with prospective clients.

If you are purchasing a home in Butler County Ohio, you may qualify for Down Payment Assistance through Neighborhood Housing Services of Hamilton, Inc. (NHS)

Purchasing a home in Hamilton, OH (city of Hamilton)?

Applicants that meet the following requirements may be eligible to receive up to $10,000 for down payment assistance for an eligible single family detached house.

  • Applicants must be below 80% of the Area Median Income
  • Applicants must purchase a qualified home in the City of Hamilton
  • Applicants will be required to provide 1% of the purchase price of the home as equity contribution to the house purchase (can be in the form of down payment, closing costs, homeowners insurance, earnest money, application fee, and/or the cost of a whole house inspection)
  • The property must pass a Housing Quality Standards (HQS) Inspection.
  • Maximum 30% Housing Payment to Income Ratio
  • Maximum 42% Total Debt to Income Ratio
  • Closing Costs cannot exceed 5% of the purchase price
  • Applicant must have sufficient creditworthiness (collections, charge-offs, and judgments must be paid in full).  And no Bankruptcies in the last 2 years.
  • Applicant must remain in the home as their primary residence for a period of five years. If the applicant sells, gets foreclosed upon, or uses the property for rental purposes before the five year period has expired, they will be required to reimburse a pro-rated portion of the forgivable loan.

Purchasing a home in Butler County Ohio?

Applicants that meet the following requirements may be eligible for Down Payment Assistance of up to 6% of the purchase price for a single family home or $10,000 per family, whichever is greater.

  • Applicants must be below 80% of the Area Median Income
  • Applicant must purchase a qualified home located in Butler County outside the City limits of Hamilton and Middletown.
  • Applicants will be required to provide 1% of the purchase price of the home as equity contribution to the house purchase (can be in the form of down payment, closing costs, homeowners insurance, earnest money, application fee, and/or the cost of a whole house inspection)
  • The property must pass a Housing Quality Standards (HQS) Inspection.
  • Maximum 32% Housing Payment to Income Ratio
  • Maximum 42% Total Debt to Income Ratio
  • Closing Costs cannot exceed 5% of the purchase price
  • Applicant must have sufficient creditworthiness (collections, charge-offs, and judgments must be paid in full).  And no Bankruptcies in the last 2 years.
  • Applicant must remain in the home as their primary residence for a period of five years. If the applicant sells, gets foreclosed upon, or uses the property for rental purposes before the five year period has expired, they will be required to reimburse a pro-rated portion of the forgivable loan.

Purchasing a home in Middletown, OH (within the city limits)?

Applicants that are purchasing an eligible single family home located in the neighborhoods indicated as a “Target Neighborhood” in the City’s HUD Consolidated Business Plan, may be eligible to receive an amount of 10% of the purchase price not to exceed $10,000 in down payment/closing cost assistance. Properties in all other neighborhoods may receive 6% of the purchase price not to exceed $5,000 in down payment/closing cost assistance. To be eligible you must meet the following criteria:

  • Applicants must be below 80% of the Area Median Income
  • Applicants must purchase a qualified home within the city limits of Middletown
  • Applicants will be required to provide $500 of the purchase price of the home as equity contribution to the house purchase (can be in the form of down payment, closing costs, homeowners insurance, earnest money, application fee, and/or the cost of a whole house inspection)
  • The property must pass a Housing Quality Standards (HQS) Inspection.
  • Maximum 35% Housing Payment to Income Ratio
  • Maximum 45% Total Debt to Income Ratio
  • Closing Costs cannot exceed 5% of the purchase price
  • Applicant must have sufficient creditworthiness (collections, charge-offs, and judgments must be paid in full).  And no Bankruptcies in the last 2 years.
  • Applicant must remain in the home as their primary residence for a period of five years. If the applicant sells, gets foreclosed upon, or uses the property for rental purposes before the five year period has expired, they will be required to reimburse a pro-rated portion of the forgivable loan.

FISCAL YEAR 2012 HUD HOME PROGRAM INCOME LIMITS* 

 Butler County, Ohio 
 Number of Persons Per Household
Low 80% of Income Very Low 50% of Income Extremely Low 30% of Limits
1 $39,950 $25,000 $15,000
2 $45,650 $28,550 $17,150
3 $51,350 $32,100 $19,300
4 $57,050 $35,650 $21,400
5 $61,650 $38,550 $23,150
6 $66,200 $41,400 $24,850
7 $70,750 $44,250 $26,550
8 $75,350 $47,100 $28,250

With all the above Down Payment Assistance programs you may obtain a loan from the lending institution of your choice.  If you would like to discuss your options for purchasing a home in Hamilton, OH, Middletown, OH or Butler County Ohio, Contact T.C. Strait with Lynx Financial Group @ 513-777-8383 or fill out the simple form to start the Pre-Qualification Process HERE

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