Tim Bradford - AMMCorp.net

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City of Parma - Down Payment Assistance Program Starts March 2, 2009

 The City of Parma has participated in a Down Payment Assistance Program for a Number of years and is coming out with their 2009 program effective March 2, 2009. 

The Citiy of Parma's program allows for 10% of the Sales price up to $10,000 as a grant that can be used as the down payment on the purchase of a home in Parma, Ohio.   The grant/Loan is forgivable over a Five year period.  There are a number of different rules that must me followed to qualify for the Grant/Loan, so please call me or Parma's Community Development department prior to submitting any offer for the purchase of a home.  Below you will find the income limitation for this program.   

2008 Income Guidelines
Members of Household Maximum Household Income
1 $34,800
2

$39,750

3 $44,750
4 $49,700
5 $53,700
6 $57,650
7 $61,650
8 $65,600

Programs similar to this are available in almost every community in Cuyahoga County.   Give me a call if you want to know the specifics of this program or any of the other Programs that are available. 

I am checking with the City of Parma, to see if there are any restrictions when it comes to combining this program with the $8,000 Federal Stimulus or the OHFA Mortgage Credit Certificates program.  

UPDATE 3/2/2009 I did recieve a note from the city that said borrowers can recieve these funds as well as the Federal Stimulus. 


Tim Bradford
Ohio Mortgage Banker LO.007173.000/ NMLS 250013
Cell: 216.324.8113 Anytime
www.GetAMortgageNow.com or www.Go2Apply.com
www.OhioHomePath.com or www.OhioRuralHomeLoans.com

Serving the Ohio Realtors and Home Buyers and Home Owners
Comment balloon 0 commentsTim Bradford • February 26 2009 05:48PM

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