Communities First Down Payment Assistance for Ohio

Down payment assistance made simple.

The Communities First - Down Payment Assistance program provides first mortgage financing and down payment/closing cost assistance grants to eligible home buyers. Cortland Bank is proud to be a participating lender. 

Not a Second Mortgage: Because Communities First is a grant, not a loan, there is no second mortgage on your home.

Based on Borrower Income: Income limits are based only on the borrower, not the household. 

Instant Equity: With a grant, the borrower receives instant equity in their new home.

Fewer Restrictions
: Additionally, because Communities First is a grant, there are no restrictions on reselling your home or refinancing your mortgage.

Increased Flexibility: 2, 3, 4, or 5% Down Payment Assistance options allow home buyer more flexibility to choose only what they need to keep interest rates low.
What are the income limits? 
  • 115% AMI by county, any family size
  • Credit qualifying income of home buyer only
What first mortgage types apply?
  • FHA
  • VA
  • Rural Development
  • Conventional
What properties are eligible? (Depends on loan type.)
  • Single-family, owner occupied (one-unit) principle residence, including condominiums, town homes, and PUDS. 
  • Duplex - Owner Occupied
How do I qualify?
  1. Meet standard industry guidelines.
  2. Not exceed maximum income limits.
  3. Have a maximum debt-to-income ratio of 45% (may vary)
  4. Have a minimum FICO credit score of 640 (650 for FHA loans)
  5. Occupy the same property as their principal residence within 60 days. 
Picture of front porch