Saving for a down payment is a big undertaking and often a major hurdle to buying a house.
Homebuyer Downpayment Assistance
Civista is pleased to offer various homebuyer grant opportunities like the Civista Community View Home Loan and the Federal Home Loan Bank of Cincinnati’s Welcome Home Loan Program for low-to-moderate-income homebuyers.
Civista Community View Home Loan
Learn more about the Civista Community View Home Loan which offers eligible borrowers down payment assistance up to $3,000.
Welcome Home Program
The Federal Home Loan Bank of Cincinnati's 2024 Welcome Home Grant Program offers grants to fund down payment and closing costs for eligible borrowers. 2024 requests may be submitted beginning March 1, 2024. Contact a Civista Mortgage Specialist to prepare requests for these limited-time only funds.
- Homebuyer grants - up to $25,000 available through Civista Bank for veterans, active military, reservists, and their surviving spouses; while other eligible buyers can receive up to $20,000.
- 2024 Funds are available first-come, first-served, for a limited-time only.
- Homebuyers must contribute at least $500 of their own funds towards their down payment and/or closing costs. Up to $300 of these funds may be received as a gift.
- A homebuyer counseling program, required for first-time homebuyers, helps prepare applicants for homeownership. Applicants do not have to be first-time homebuyers.
- Grant approval is approximately 4-6 weeks; approval of grant is required before loan closing.
Boost Your Buying Power
Eligible borrowers can combine down payment assistance from multiple qualified programs. For example, grant funds from the Welcome Home program can be combined with down payment assistance from Civista's Community View Program, giving qualified borrowers up to $28,000 in down payment assistance. Income and property restrictions apply.
Contact a Civista Mortgage Specialist to learn more about these programs.
No to Low Down Payment Programs
Civista offers a variety of low-down payment programs where down payment assistance can come from gifts or grants.
- An FHA loan is insured by the Federal Housing Authority.
- Down payments as low as 3.5%.
- Gift money and grants may fund your down payment.
- FHA Mortgage Insurance is required through the life of the loan. The premium is calculated based on the loan amount.
- A VA loan is backed by the Veterans Administration to help veterans and their families purchase a home outside of conventional mortgage standards.
- No down payment required as long as the sale price doesn’t exceed the appraised value.
- Review Certificate of Eligibility requirements for service members, veterans, spouses and other eligible beneficiaries.
- Private Mortgage Insurance is not required.
- USDA Guaranteed Loans are backed by the United States Department of Agriculture and are designed for eligible rural and suburban homebuyers.
- Low rates with zero down payment requirement.
- Income limits vary by location. Learn more about USDA loan eligibility or contact a Civista Mortgage lender near you.
- Down Payment as low as 3% of the home's purchase price.
- No minimum borrower contribution toward down payment. Funds can come entirely from other sources (gifts and other assistance programs).
- Allows for co-borrowers (like parents) who do not live on the property with you.
- Income from extended family living with you may be considered in loan qualification.
- A required homeowner education course prepares you for the ongoing responsibilities and costs of homeownership.
- No income limits for properties in low- income neighborhoods.