Columbus Region Down Payment Assistance*

An Ohio Based Program for HOMEBUYERS

About

Multiple Loan Options. GREAT Low Rates.*

The borrower receives a 30-year, fixed rate, fully amortizing home loan with 360 level monthly payments. They may also opt to receive down payment assistance equal to a percent of the note amount to apply toward the required down payment, closing costs, prepaids or principal reduction. Borrowers may select a loan with one of the multiple Down Payment Assistance options or a low rate loan without assistance. Current mortgage rates are available by contacting our team. Credit and income limits apply and homebuyer education is required. *Restrictions may apply.

Credit & Property

Qualifications:

To qualify for the Columbus Region Down Payment Assistance Program, you must:

Have qualifying credit. This program has FICO score restrictions. Ask a lender if you qualify.
Meet the income limits. Select the "Income Limits" button for more details.
Have the necessary property requirements. New or existing residential, 1-4 units, detached, condominiums, townhomes or manufactured homes.
Have successfully completed homebuyer education where all borrowers are first-time homebuyers.

Qualifications

Loan Income

Limits:

To qualify for the Columbus Region Down Payment Assistance Program, you must be within the limits:

Click the button below to view all loan income limits per county.
Please note, income limits are the same for all family sizes.

Income Limits

Borrower Program

Benefits:

The Columbus Region Down Payment Assistance Program offers the following for borrowers:

30-year fixed rate mortgage loans (FHA, VA, USDA Rural Development and Conventional Loans).
Borrower Assistance for down payment, closing costs, and/or prepaids.
Please note, some restrictions may apply.
For more information on the Columbus Region Down Payment Assistance Program requirements for borrowers, please click the button below to download our information page. (Both English and Spanish versions are available.)

CRDPA Flyer

Borrower Program

Differences:

The Columbus Region DPA Assistance Program offers homeownership throughout Franklin County with:

No minimum borrower investment. You may be able to purchase a home with no money down.
Repeat buyers welcome. The program is available to first time AND repeat homebuyers for both purchases.
Assistance that helps build equity. Down payment assistance (DPA) is in the form of a forgivable second mortgage.

Buyers

General

Information

There is no first-time homebuyer requirement in this program. Borrowers must have a credit score above 620 and qualifying income below $142,660 (for most areas, higher in some areas) to use the program.

Buyers must live in the property as their principal residence within 60 days of closing.
Applicants must be considered irrespective of sex, age, race, color, religion or national origin.

Eligible

Properties

Properties eligible for the Columbus Region DPA Program loans include:

New or existing, owner occupied, principal residences, 1-4 units, detached structures, condominiums or townhomes.
Properties must meet Servicer and Agency guidelines.
The eligible area must be within Franklin County, including the City of Columbus.

Educational

Requirements

Columbus Region DPA requires only one borrower on the loan complete the homebuyer education course when all are first-time homebuyers.

Courses are available online or in-person.
There are NO purchase price limits within this program.

Minimum FICO

Score & Ratio

Buyers must have a minimum FICO credit score of 620. The maximum DTI (debt-to-income ratio) must not exceed 50%. Ask a qualified lender if you qualify.

The program allows manual underwriting in some cases in accordance with Servicer and Agency guidelines for the loan product.
Consult an approved CRDPA Program lender for details.

Financial Facts

& Reservations

The following mortgage products are offered in this program: FHA, VA, USDA-RD and conventional loans.

Interested borrowers must contact a participating lender to apply for the loan. The lender will verify your qualifications.
When you submit a loan application with the lender, it may be important that you have the following information:
List of all outstanding debts and credit cards, including account information, unpaid balance and monthly payments; name and address of employer(s); copy of your most recent pay stub(s).

Lenders

Locate a Lender
to Get STARTED.

To find the name of a lender, to check if your lender offers the CRDPA Program, or for any other questions, please contact:

Eva Sloate: (720) 673-3955, eva@columbusregiondpa.org

Diana Minardi: (720) 673-3948, diana@columbusregiondpa.org

We Work With Some of the
MOST TRUSTED Names in the Industry.

Become a Participating LENDER.

To become a participating lender, there is a multi-step process. First, you must be approved to do business with Land Home, who is acting as the Program’s Servicer. If you are not already doing business with Land Home, you will need to contact Nora.Salas@LHFS.com to receive the appropriate documents for execution. Land Home will notify the Lender and program Sponsor when approved.

LENDER APPROVAL:

You must be an APPROVED LENDER with Land Home. If you are not an approved lender, please contact: Nora.Salas@LHFS.com

Email Land Home

LENDER AGREEMENT:

Complete a PROGRAM LENDER AGREEMENT with the Insert TBD Development Authority and email a PDF copy to the Columbus Region DPA Program Team. Also, send a PDF Copy to: TBD

Ageement PDF

LENDER TRAINING:

Once you are approved by Land Home and have executed a lender agreement, you can participate in LENDER SYSTEM TRAINING led by eHousingPlus. eHousingPlus is the Program Administrator and all Program loans are locked in the eHP system. To schedule LENDER SYSTEM training, please contact: Sue Denihan, (813) 415-3549, sue@ehousing.cc. To schedule SALES training, please contact: Eva Sloate, sloatee@stifel.com

eHousingPlus

LOAN PROCESSING:

The lender coordinates the 1st mortgage and the assistance for the borrower and will qualify borrower(s) based on Program, Servicer, and Agency guidelines. The lender will lock the loans in the eHousingPlus system. Below is a step-by-step guide to our loan processing timeline: 1. Lender underwrites the loan (delegated underwriting). 2. Lender locks loan in the eHousingPlus system. 3. Lender closes and funds the loan. 4. Lender delivers the loan to Land Home for reimbursement.

SERVICER GUIDELINES:

To access LAND HOME SERVICER GUIDELINES, follow this link or click on the LHFS Guidelines button: https://lhfs.com/suggested-documents

LHFS Guidelines

Reviews

“Thank you so much for all your help in getting me and my family into a home even beyond our dreams. Our family has had room to grow! The kids love having a backyard and their own rooms. We’re no longer all on top each other and everyone feels so proud to have a place to call home, a place that’s truly our own!”

— Thomas A.

Team

Columbus Region Down Payment Assistance*

An Ohio Based Program for HOMEBUYERS

Multiple Loan Options. GREAT Low Rates.*

Locate a Lender
to Get STARTED.

We Work With Some of the
MOST TRUSTED Names in the Industry.

Become a Participating LENDER.

Reviews

How Can We Help?

We'll respond as soon as we can!

Columbus Region Down Payment Assistance*

An Ohio Based Program for HOMEBUYERS

Multiple Loan Options. GREAT Low Rates.*

Locate a Lender to Get STARTED.

We Work With Some of the MOST TRUSTED Names in the Industry.

Become a Participating LENDER.

Reviews

How Can We Help?

We'll respond as soon as we can!

Locate a Lender
to Get STARTED.

We Work With Some of the
MOST TRUSTED Names in the Industry.