We know it’s hard to come up with a big down payment for your first home. The good news is that we might be able to help. The HomeOwnership Center and the City of Dayton partnered to provide a down payment assistance program to first-time homebuyers. If qualified, you may receive up to 10% of the home’s purchase price up to $10,000 toward the down payment and closing costs. The loan is a 0% deferred second mortgage.

To qualify for the Dayton down payment assistance program, you must:

• Have a total household income less than 80% of area median income*
• Contribute a minimum of $500 of your own funds to close.  ALL FHA Borrowers are required to contribute 3.5% of their own funds.
• Provide a completed application and all required documents as outlined in the program guidelines
• Buy a home in the City of Dayton proper with Parcel ID starting with R72
• Complete a Homebuyer Class and meet with a Homeownership Advisor at the HomeOwnership Center (Completing this program does not mean that you are automatically approved for down payment assistance. If you are only interested in the First-Time Homebuyer Program because it is a requirement for obtaining down payment assistance, do not sign up for the program until you have been approved for down payment assistance.)

Additional restrictions apply. Funds are limited and are available on a first-come, first-served basis. You will need to meet all program guidelines.