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Marysville 2008-2009 Community Housing Improvement Program (CHIP)

The City of Marysville has been awarded a Community Housing Improvement Program (CHIP) grant to assist its residents with housing related activities.  This CHIP provides money to low and moderate income households to address home repair, housing rehabilitation, or down payment with rehabilitation.  If you are an income eligible homeowner needing housing repairs or a first-time homebuyer wishing to purchase a home within the City, you may be eligible for financial assistance.

HOME REPAIR
Minor home repair assistance is available to help low income homeowners with home repairs or activities that eliminate conditions that pose health and safety threats to the residents.  Eligible activities or repairs include electrical, heating or plumbing systems, roofs and structural repairs.  Properties must be owner occupied, the household must meet income guidelines.

HOME REPAIR INCOME GUIDELINES (effective February 2008)

Grant money up to $5,000.00 is available.  Additional requirements include owner must be current on property taxes and the Auditor's value of the property cannot exceed $144,000.

HOUSING REHABILITATION
Housing rehabilitation assistance is available to help low and moderate income homeowners with more extensive housing needs.  All major systems in the house will be inspected and brought up to the program's Residential Rehab Standards.  Eligible repairs include electrical, heating and plumbing systems, roofs and foundations, windows and doors, gutters, steps and sidewalks.  Additionally, repairs may address interior surfaces and floor coverings.  Properties must be owner occupied and the household must meet income guidelines.

HOME REHABILITATION INCOME GUIDELINES (effective February 2008)

A deferred loan of up to $35,000 is available for the rehabilitation of the home.  A lien will be placed on the property to secure the loan.  No payments will be required as long as the applicant owns and occupies the house.  Over 10 years, 85% of the loan will be forgiven; 15% of the loan will be due upon sale or transfer of the property.  Additional requirements include owner must occupy home for at least one year, must be current on property taxes, must have home owners insurance, and the Auditor's value must not exceed $144,000.

DOWN PAYMENT WITH REHABILITATION
Down payment and rehabilitation assistance is available for low and moderate income, first-time homebuyers desiring to purchase a home within the City of Marysville.  The home purchase price cannot exceed $144,000 and the household must meet income guidelines.

DOWN PAYMENT WITH REHAB INCOME GUIDELINES (effective February 2008)

Deferred loans are available up to $32,500 for combined down payment and home rehabilitation assistance.  Two liens will be placed on the property to secure each loan.  No payments will be required as long as the applicant owns and occupies the house.  Over 10 years, 85% of the loan will be forgiven; 15% of the loan will be due upon sale or transfer of the property.  Additional requirements include owner receiving Homebuyer Education provided by CHIP Administrators and the purchase price cannot exceed $144,000.

APPLICATIONS ACCEPTED AND PROCESSED ON A FIRST-COME/FIRST-SERVED BASIS
This program is funded by the State of Ohio, Office of Housing and Community Partnership

For more information about this program, please call Kim Kellogg at the Community Housing Improvement Program (CHIP) office 1-800-886-6772 Monday through Thursday from 8am to 4:30pm.