Tuesday, May 5, 2009

ADDI - loan information

Please check out the updated web-site for the downpayment assistance program from the City of Cincinnati. The income guidelines have increased.

What is key with this program is that the applicant has to apply and receive their approval letter before writing an offer on an home.

This is an excellent resource for a first-time homebuyer and someone going with FHA for their financing. The funds can be used for downpayment and/or closing costs.

I closed two of them recently and a third one hopefully this month. It takes some coordination and patience with the process, but the buyers seem to appreciate it in the long run.

http://www.cincinnati-oh.gov/cdap/pages/-9500-/ Roy J. Hackworth, ADDI Program Manager Department of Community Development 805 Central Avenue, Suite 700 Cincinnati, Ohio 45202 e: roy.hackworth@cincinnati-oh.gov p: (513) 352-6119 f: (513) 352-6123

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