Renovations
This home was renovated by the Land Bank in cooperation with the Western Reserve Community Development Corporation (WRCDC). Funding sources including Community Development Block Grant funds and Home Investment Partnership Program funds. As a result, this house is available to home buyers who meet federal established low income guidelines. Provided for your consideration:
- DESCRIPTION OR SCOPE OF WORK completed on the home – Learn More
- INDEPENDENT APPRAISAL – indicating an estimated market value of the home which is the asking price – which is also the asking price for the home – Learn More
- INFORMATION FOR PROSPECTIVE BUYERS REGARDING APPLICABLE RE-STRICTIONS AND OBLIGATIONS IMPOSED DUE TO USE OF FUNDS FROM THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. HOME INVESTMENT PARTNERSHIP PROGRAM – ACKNOWLEDGEMENT – Learn More
- HOME INVESTMENT PARTNERSHIP PROGRAM – DOCUMENTATION – Learn More
HOMEBUYER TRAINING REQUIRED
Individuals purchasing this property are required to participate in a homebuyer training program provided by a HUD Certified Housing Counseling Agency prior to the transfer of title to the home. ESOP Empowering & Strengthening Ohio’s People http://www.esop-cleveland.org/ provides acceptable training and lists the training schedule on their website calendar and a description under their programs/services. http://www.esop-cleveland.org/programs-services/housing-counceling/homebuyer-education.html
INCOME LIMITS
HUD publishes income limits annually that are adjusted according to household size and source of funding. For both the Community Development Block Grant and the Home Investment Partnership Program the limit is 80% area median income, also known as low – income. Lake County is a part of the Cleveland Elyria Metropolitan Statistical Area. As an example a three person household can earn up to $48,900 (Low-income) and being at or below that income level makes that household eligible to participate in these programs.
Cleveland-Elyria, OH MSA
FY 2017 MFI: 67900
| NUMBER OF PERSONS | 1 Person | 2 Persons | 3 Persons | 4 Persons | 5 Persons | 6 Persons | 7 Persons | 8 Persons |
| LOW 80% INCOME LIMITS |
$ 38,050 |
$43,450 |
$ 48,900 |
$ 54,300 |
$ 58,650 |
$ 63,000 |
$ 67,350 |
$ 71,700 |
