House picture

Office of the Director   
111 N. Front Street, 8th Floor  
Columbus, OH 43215  
(614) 645.7795   
(614) 645.6675 [FAX]  

Code Enforcement Division   
111 N. Front Street, 3rd Floor   
Columbus, OH 43224-3218   
(614) 645.2202  
(614) 645.6675 [FAX]  

Economic Development
111 N. Front Street, 8th Floor 
Suite 220  
Columbus, OH 43215-4418  
(614) 645.8616  
(614) 645.6675 [FAX]  

Housing Division  
111 N. Front Street, 3rd Floor  
Columbus, OH 43215-9040  
(614) 645.7896  
(614) 645.6675 [FAX]  

Land Redevelopment Division  
845 Parsons Avenue    
Columbus, OH 43206-9030  
(614) 645.5263  
(614) 645-6675  [FAX] 

Planning Division   
111 N. Front Street, 3rd Floor   
Columbus, OH 43215-9030   
(614) 645.8664   
(614) 645.6675 [FAX]

 American Dream Downpayment Initiative (ADDI) Program

The City of Columbus American Dream Downpayment Initiative (ADDI) Program operates jointly with participating lenders by providing funds to create homeownership opportunities in Columbus for low and moderate income, first-time homebuyers.  The property must be located in the City of Columbus, Columbus City School District. This program may be used in conjunction with the Housing Development Program (HDP). Outlined below are applicant and property criteria for participation in this program.

   

The ADDI program offers a deferred, forgivable loan to be used for downpayment and closing costs.  The buyer(s) must reside in the property for five years after closing or the funds must be repaid to the City from sale proceeds.  The property is unable to be sold, rented, or transferred during these five years and must remain as the sole residence of the buyer(s).  After the five years, the mortgage and restrictive covenant are released on the property and the loan is forgiven.

 

Eligibility

 

To be eligible, the applicant must be a first time* homebuyer, meet income guidelines, receive homebuyer education from a Housing Division HUD Certified Agency, and purchase a single family home or condominium in the City of Columbus, Columbus City School District. The funds for downpayment assistance are limited and will be available on a first come, first serve basis.

 

*A first-time homebuyer is defined as an individual and their spouse who have not owned a home during the three-year period (thirty-six months) prior to the purchase of a home with ADDI assistance. A minimum of six (6) months residency in the State of Ohio and a permanent resident of the United States are also required to be considered a first-time homebuyer.

 

Households whose income is at or below 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban Development (HUD), may qualify for up to six percent (6%) of the purchase price of the home, maximum loan of $5,000.

 

All buyers must contribute $500 of their own funds toward the purchase of the home. This $500 may not be gifted or come from any other source other than the buyer themselves.  Appraisal and Home inspection costs will be considered up to $250 ($250.00 from appraisal and $250.00 from inspection) based on approved criteria.  Buyer must fall within 35% House Debt/Income ratio and 45% Total debt/Income ratio based on City income and debt calculations in order to qualify.

   

2018 HUD Income Guidelines

 

2018 HUD Income Guideline - 80% Area Median Income as of June 1, 2018  
Family     Yearly Income  
One  $42,800
Two   $48,900
Three  $55,000
Four   $61,100
Five   $66,000
Six   $70,900 
Seven   $75,800
Eight  $80,700

 

NOTE:Total Household income is all sources yearly income of all adults (18 years of age and older) living in the home. 

                         

APPLICATION PROCESS

 


The City of Columbus maintains a list of lenders that are certified to utilize the ADDI Program. In order for the application to be processed the lender must be on this list.

 

PLEASE CLICK HERE FOR THE ADDI APPROVED LENDER LIST 

 

Lenders not on the list are welcome to contact the Housing Division to become certified or by completing the attached Lender Participation Agreement. After completing, signing, and notarizing please submit the original ADDI Lender Participation Agreement to the Housing Division located at 111 N. Front St, 3rd Floor, Columbus, OH 43215 Attn:  Tracey Davis. 
  
The City of Columbus recommends that the buyer first contact a lender to become qualified for a mortgage loan and then locates a home to purchase through a certified real estate agent. After the mortgage loan is approved, the lender should submit the completed ADDI package on the buyer's behalf. Approval generally takes four to six (4 to 6) weeks from receipt of the completed application package.

 

PLEASE CLICK ON THE LINK BELOW TO FOR THE ADDI LENDER TRAININGVIDEO WHICH CAN BE ACCESSED On YouTube.

 

https://youtu.be/EhjnyB34QRo​ 

 

 

The City of Columbus recommends that the buyer first contact a lender to become qualified for a mortgage loan and then locates a home to purchase through a certified real estate agent. After the mortgage loan is approved, the lender should submit the completed ADDI package on the buyer's behalf. Approval generally takes four to six (4 to 6) weeks from receipt of the completed application. Once the application package receives final approval, both the lender and homebuyer receive the approval letter and the ADDI funds are ordered at this time.  Please allow 8 -10 business days for receipt of funds.  Closing may occur as soon as three (3) business days after receipt of funds.  For conventional loans only, closing may occur as early as 48 hours after approval.  For FHA loans, the closing can take place approximately two (2) weeks after the commitment letter is sent to the homebuyer and the lender. 
  
Homebuyers may be within the Modcon Living Tool Library boundaries (formerly Rebuilding Together Central Ohio).  The Modcon Living Tool Library Program is designed to encourage low-cost home maintenance and improvements by lending tools and equipment free of charge to residents in designated service areas. This program provides over 200 different types of hand and power tools for home repair, maintenance, landscaping, and painting. To see if you are eligible, please contact Modcon Living at 614-258-6392 or visit their website

   

HOUSING CONTACT INFO Housing Division

 

Office : 614-645-7896 
INTAKE LINE
Office : 614-645-8526  
Email:  Home_Safe_And_Sound   

Franklin County Auditor  
Franklin County Recorder's Office  
U.S. Department of Housing and Urban Development   
OHFA  
Homeport Downpayment Assistance  
ECDI IDA Program

     

Housing Contact Info Housing Division

Office : 614-645-7896 


Intake Line
Office : 614-645-8526 
Email:  Home_Safe_And_Sound  

Franklin County Auditor 
Franklin County Recorder's Office 
U.S. Department of Housing and Urban Development  
OHFA 
Homeport Downpayment Assistance 
ECDI IDA Program