Programs for Homeowners
With many affordable home options and helpful financial assistance options, home-ownership in Slavic Village is more accessible than ever. Review some of the programs we have developed or administered to find your new home!
Neighbors Invest in Broadway – looking for a fixer-upper?
Neighbors Invest in Broadway (NIB) is an exciting new housing program in Slavic Village. Designed to take advantage of a weak housing market, the NIB program transforms distressed vacant homes into low-cost sustainable homeownership opportunities in Slavic Village.
The NIB, distressed homes are made available for purchase, rehab and owner occupancy. The program is designed to utilize sweat equity to reduce renovation costs (the homeowner may choose items to complete themselves to lower the labor costs associated with hiring a contractor). Total costs, including purchase and rehab, is intended to range from $15,000 to $30,000 depending on the home and amount of repairs needed.
SVD is accepting proposals for the homes listed below from qualified developers and those interested in the Neighbors Invest in Broadway Initiative . Preference will be given based on proposed reuse (for sale or owner occupants will have preference over rental); developer track record, scope of work and acquisition offer.
*Homes listed as “HUD Dollar Homes” are subject to restrictions.
*Estimated prices cover SVD’s out of pocket costs and include a modest development fee.
Please submit your proposals to Stacia at firstname.lastname@example.org. Additional RFPs will be sent out by e-mail, as well as updated on this website as more homes become available.
Homes for Sale (Buyers must bring homes up to code)
6821 Berdelle $3,500
7205 Rathbun $3,500
6705 Clement $3,500
3614 E 50 $3,500
7811 Goodman – SOLD
6817 Kazimier – SOLD
To learn more about Neighbors Invest Broadway or to fill out an application, contact Stacia Pugh at (216) 429-1182, ext. 117 or e-mail email@example.com.
Administered by the City of Cleveland Division of Neighborhood Services, Afford-A-Home helps home buyers purchase and repair affordable Cleveland homes. Along with local banks and neighborhood housing organizations, the program offers low-interest loans and interest-free second mortgages in amounts of $10,000 or $20,000. For more information, call (216) 664-2045 or click here.
The City of Cleveland’s Residential Tax Abatement program offers temporary elimination of 100 percent of the increase in real estate property tax for eligible projects. It is available to stimulate investment in new development or redevelopment in the City of Cleveland. The length or term of abatement varies from 10 to 15 years depending on type of project. Qualifying types of development include new construction, conversion of nonresidential buildings to residential units, rehabilitation of existing homes and home improvements costing over $2,500. For more information, click here.
Down Payment Assistance
Although there is not a specific down payment assistance program in the City of Cleveland, occasionally financial institutions offer financial assistance programs. Application for a down payment assistance program is usually made at or before your mortgage application. For more information on down payment assistance, visit the Cleveland Housing Network’s website or the Neighborhood Housing Services website.
Free Home Buying & Credit Counseling Classes
There are several outstanding resources in Greater Cleveland geared toward helping low-income families move out of poverty. From classes in money management to homeownership training classes to home maintenance workshops, the following organizations can help you get on the right path to home ownership.
Home Repair Loans
Several Greater Cleveland organizations offer home repair assistance programs. For more information and eligibility requirements, contact one of the following organizations:
Neighborhood Housing Services
Huntington Bank Rehab Loan Services – Call Nelson Custer at (216) 515-6863
Cleveland Restoration Society
HUD 203K Rehabilitation Loans
Senior Homeowner Assistance Program