Homebuyer Acquisition
Assistance Program
The City of Lancaster has available a homebuyer
acquisition
assistance program to assist low-and-moderate income households in purchasing
a single family dwelling unit within the City of Lancaster.
The City of Lancaster's Community Development
Department will provide a deferred loan of $5,000.00 for a mortgage buy
down to help eligible persons qualify for a conventional loan through a
participating bank, savings and loan association, credit union or other private lending
institution.
Lancaster's Homebuyer Acquisition Assistance Program
is financed through the U.S. Department
of HUD or the State of Ohio.
| Family Size |
Income |
| 1 Person |
$36,600 |
| 2 Person |
$41,800 |
| 3 Person |
$47,050 |
| 4 Person |
$52,250 |
| 5 Person |
$56,450 |
| 6 Person |
$60,600 |
| 7 Person |
$64,800 |
| 8 Person |
$68,950 |
How to Apply
Contact your bank, savings and loan
association, credit union, or other private lending institution
to ask if they will participate in the acquisition deferred loan
program.
Complete a loan application with a participating lender.
Authorize the participating lender to provide copies of your
loan application, loan documents, and purchase agreements to the
City of Lancaster.
To receive further information on the program or schedule an
appointment for an application, please
contact the City of
Lancaster's Community Development Department.
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