“When people are working with a HUD-certified housing counselor, they’re working with a person who can provide objective information about the buyer’s affordability and loan products,” said Anita Schmaltz, vice president of financial wellness at the HomeOwnership Center, a program of County Corp, a local HUD-certified housing counseling agency.
Additional housing counseling agencies can be found at www.tinyurl.com/HCagencies.
Other programs include:
• DPA One is a free online resource to help potential homebuyers quickly find, understand and match down payment assistance (DPA) programs for borrowers. More information is available at www.tinyurl.com/DPAone.
• The Ohio Housing Finance Agency offers a variety of programs at www.myohiohome.org, including affordable loan products, down payment assistance, and mortgage tax credits.
• The state of Ohio Treasurer offers a Homebuyer savings account with an enhanced interest rate and a tax-advantage at tos.ohio.gov/homebuyerplus. “This is not limited to first-time homebuyers, but is designed to help people save money in order to right-size their home,” Schmaltz said.
• Local jurisdictions may choose to support homeownership initiatives with community development funds. City of Dayton ARPA Down Payment guidelines are available at www.tinyurl.com/ARPAdayton.
• Lenders may provide incentives in specific neighborhoods or census tracts in support of their Community Reinvestment Act requirements, Schmaltz said. “When people are shopping for their mortgage, they may want to see what programs are available with various lenders and what are the guidelines for each,” she said.
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