Homeowner Assistance Fund

  • Homeowner Assistance Fund

The Ohio Housing Finance Agency has been appointed to operate the federal government's new mortgage assistance program. The U.S. Department of Treasury is providing funding through the Homeowner Assistance Fund established under the American Rescue Plan Act of 2021. In Ohio, the program will operate as Save the Dream Ohio: Help for Homeowners.

The program, which will include a pilot program to assess the proposed plan, will be developed over the next few months under the supervision of the Department of Treasury. The pilot will include assistance for utilities, property taxes, homeowner association fees, and mortgage payment assistance.

The Department of Treasury must approve Ohio's statewide program, which will include mortgage assistance, before it can begin.

Homeowners are eligible to receive assistance if they experienced a financial hardship after January 21, 2020 and have incomes equal to or less than 150% of the area median income.


Family Size Adjustments & Income Limits for HAF Eligibility in Ohio

1-Person 2-Person 3-Person 4-Person 5-Person 6-Person 7-Person 8-Person
$103,350 $118,100 $132,850 $147,600 $159,450 $171,250 $183,050 $194,850

Notes: Based on the FY2021 Median Family Income in the Union County, OH HUD Metro FMR Area (i.e., the HUD Metropolitan Fair Market Rent/Income Limits Area (HMFA) with the highest median family income in Ohio). The income limit (IL) for HAF eligibility is set at 150% of median family income and adjusted for family size, based on HUD's methodology for family size adjustments. The 4-person family IL is considered to be equivalent to 150% of the median family income. Once the 4-person family IL has been established, income limits for other family sizes are calculated by applying a percentage adjustment to the final 4-person IL. Calculation of income limits for other family sizes is straight-forward. The 1-person family IL is 70% of the 4-person IL. The 2-person family IL is 80% of the 4-person IL, the 3-person family income limit is 90% of the 4-person IL, the 5-person family IL is 108% of the 4-person IL, the 6-person family IL is 116% of the 4-person IL, the 7-person family IL is 124% of IL and the 8-person family IL is 132% of the 4-person income limit. The resulting IL calculation for family sizes are then rounded up to the nearest $50 to produce the final IL. Optionally, for family sizes larger than 8 persons, the IL could be calculated by adding eight (8) percent per person to the next lower limit. For example, a 9-person family IL would be 140% (132% + 8%), and so on.


Additional information from the Department of Treasury is available by clicking here.

If you would like to be added to our Save the Dream Ohio contact list, please complete the below form.