Mayor Wade Kapszukiewicz | City of Toledo Official website
Mayor Wade Kapszukiewicz | City of Toledo Official website
TOLEDO, OH – The Toledo Home at Last Program, administered by the Department of Housing and Community Development, provided assistance to 45 first-time homebuyers in 2023. The program collaborates with participating lenders to provide up to $9,500 of down payment and closing costs for income-eligible families in targeted inner-city neighborhoods and up to $7,500 of assistance in non-target neighborhoods.
The average amount of assistance in 2023 was $7,415 per applicant, provided as soft-second forgivable loans if the buyer remains in the property for 10 years. The Home at Last Program's total investment in 2023 was approximately $334,000, leveraging $3.7 million of bank investments in first mortgages in Toledo neighborhoods.
"I’m very proud of the Home at Last Program. This initiative, driven by collaboration and commitment, has not only opened doors to homeownership for many but also lays the foundation for community growth and generational security. The success of this program reflects Toledo's dedication for accessible housing opportunities for everyone," Mayor Kapszukiewicz said.
The Home at Last Program offers a streamlined 21-day processing time for applications submitted by participating lenders. Premier Bank and Huntington Bank are leading participating lenders. Other lenders are encouraged to join. Since 2020, the Home at Last Program has assisted 216 first-time homebuyers to achieve the American dream of homeownership.
“The Home at Last program has been a huge asset to our underserved customers. The program has provided a sense of hope to those who believed homeownership could not be a reality,” Faye Smith, Assistant Vice President/CRA Mortgage Loan Originator, said.
“The Home at Last Program with the City of Toledo has made such an impact in our community. Being able to partner with the city on the grant funds, along with our 100 percent financing program has promoted housing throughout our city for many new homeowners. This will bring years of generational wealth,” Tammy J. Moses, Community Mortgage Lender, said.
For more information visit: toledo.oh.gov/home-at-last
Original source can be found here.
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