Parma Down Payment Assistance Program
Interested in buying a home in Parma? Our down payment assistance (DPA) program can help!
Qualify for up to $21,900 to purchase your new home in Parma!
This program, funded by the City of Parma and Cuyahoga County and managed by Believe Mortgage, is designed to make homeownership in Parma more affordable and sustainable for you!
Eligible Homes for the Parma DPA Program
- Located in Parma
- Home purchase price must not exceed $219,000
Eligible Buyers for the Parma DPA Program
- First time homebuyers and those who have not owned a home in the past 3 years
- Must be at or below 80% area median income, i.e., a family of four can have an income of up to $79,500.
- Must complete a HUD-approved homebuying education course.
Parma DPA FAQs
Is the Parma DPA program just for First-Time Homebuyers?
This program is for first time home buyers and those who have purchased a home before! Anyone who has not owned a home in the last 3 years and meets other qualification criteria is eligible.
Is this a homebuyer grant or a loan?
We offer a deferred loan repayable upon sale, transfer of title or refinance.
Who is eligible for down payment assistance in Parma?
Down payment assistance is available for first-time homebuyers as well as those who have not owned a home in the past three years who are purchasing a home in Parma. Additional requirements include the home being a single-family home, the borrower must live in the home and household income must be at or below 80% of the area median income. For questions about qualifications, please give us a call at (855) 764-LOAN.