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Michelle Green's Blog

By Michelle Green | Agent in Parma, OH

Parma Ohio First Time Home Buyer Funds Now Available!

Parma First Time Home Buyer Funds available.

This is a great program, however if you hope to take advantage of it, you need to move quickly with the paperwork. The funds are limited and tend to run out quickly!

To obtain an application you must contact the City of Parma Department of Development and obtain an application IN PERSON, can't be provided by your lender or Realtor.

 Important Points about the program:

  • Limited Funds
  • Income Limits Apply
  • Must qualify for a loan amount of $70,000 or greater
  • Maximun down payment assistance loan of 10% of the purchase price or $10,000
  • The loan will be a 0% interest rate for a 5 year period and then is forgiveable

It is possible to use this money, as well as the federal tax credit, but please check with your accountant or tax attorney to see if you qualify.

*IMPORTANT* An applicant can not sign a purchase agreement prior to submission and approval of the application by the department. Signing a purchase agreement before  approval from the city of Parma will result in disqualification from the program!

For more information, contact  the Parma Department of Developement directly at 216-661-7372.

If you are looking to buy a home, you need a Realtor to help....call Michelle Green and The Green Team @ Howard Hanna 440-342-0269


Comments

By rjpflower,  Tue Apr 30 2013, 19:38
do you have to qualify for the loan before you aplly for the grant?

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