Down Payment Assistance

One of the greatest obstacles to buying a home can be the out of pocket cash required for down payment and closing costs.  Many families find that they can afford the monthly mortgage payment but don’t have the savings to cover closing costs.  Neighborhood Housing Partnership (NHP) wants to remove those obstacles by offering down payment and closing cost assistance to qualified households.  General guidelines include the following:

The maximum grant assistance is $5,000. 

Funds may be used for down payment assistance ($1 to $1 match of client’s funds), eligible closing costs, and/or mortgage principal reduction, if necessary. 

Term of deferred grant is 3 years, with equal amounts forgiven for each of the 36 months; assistance secured by recording a 2nd mortgage; subordinations considered on a limited case-by-case basis.  Prorated balance due if property ceases to be principal residence.

The single-family property (to be owner-occupied) must be located within the City limits of Springfield.

The client must be a first-time homebuyer or not owned a home within the last 3 years.

Client must secure permanent financing with a lender before assistance is awarded.

Total gross household income cannot exceed program limits (see chart below).

The client must complete the NHP 8-hour comprehensive homebuyer course.

NHP Project Manager will inspect property to verify that the structure is in good repair and meets health and safety requirements.

A minimum financial contribution by the client is required ($500 or match, whichever is greater).

If first mortgage is FHA, assistance is limited to eligible closing costs.

Non-prime fixed rate first mortgages on a limited basis (no adjustable rates, land contracts, seller seconds, or co-signers). 

Household size Annual Gross Income (80%AMI)
1 $37,150
2 $42,450
3 $47,750
4 $53,050
5 $57,300
6 $61,550
7 $65,800
8 $70,050

AMI = Area Median Income; Limits as of 04/2021


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Helping you find the way home

....with Down Payment Assistance

Open Hours

Mon-Thurs: 8:30 am – 5:00 pm

Fri: 8:30 am – 2:00 pm

527 E. Home Road

Springfield, OH 45503