For Southeast Columbus couple Austin Spillman and Savanna Wooten, becoming a homeowner seemed unattainable.
When Spillman, 27 and Wooten, 25, started looking into buying a home ahead of their wedding this summer, they found out about Columbus’ American Dream Downpayment Initiative. In March, the couple closed on a 1,000-square foot home in Southeast Columbus for $208,000 using $12,500 in down payment assistance from the city.
“The day we closed on the house, we walked in, we got the keys and we just had these huge smiles on our faces,” Spillman said. “It’s truly unbelievably. Even now, when we walk into the house, we’re like ‘Oh, wow, we own this house. It’s ours.'”
Columbus Mayor Andrew Ginther is encouraging eligible first-time homebuyers to apply for assistance at www.columbus.gov/addi.
“Everybody where I go in Columbus, people are talking about affordability,” Ginther said. “This is really geared toward folks who are working hard, playing by the rules but are really being challenged by the housing market in Columbus.”
The city has $1 million to give out this year, more than any previous year, on a first-come, first-serve basis to at least 66 households. Individuals and families can qualify for up to 6% of the purchase price of a home with a maximum forgivable loan of $14,999. The down payment assistance loans are forgiven after the homebuyers live there for five years.
Households are eligible if they earn less than 120% of the area median income. That’s $104,640 for a household of two people.
The money comes from the city’s Housing Business Tax Incentive Fund. When developers get tax incentives in the city to build housing, they either have to incorporate affordable units into their development or pay into this fund, which the city uses for down payment assistance.
The city’s American Dream Downpayment Initiative builds on a federal program started under President George W. Bush. The city began funding its own program in 2023.
“This is really about opportunity, stability,” Ginther said. “I can’t do anything about gas prices. I can do something about bringing down the cost of housing.”
Reporter Jordan Laird can be reached at jlaird@dispatch.com. Follow her on X, Instagram and Bluesky at @LairdWrites.
This article originally appeared on The Columbus Dispatch: How Columbus first-time home buyers can get down payment assistance
Reporting by Jordan Laird, Columbus Dispatch / The Columbus Dispatch
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