WELCOME HOME Sandusky
Frequently Asked Questions
Read Frequently asked Questions and Answers below! Have a question?
Is the buyer able to rent a portion of the home after the five-year occupancy period?
Yes. However, the eligible individual must maintain the home as their primary residence.
Are there hardship exemptions for the occupancy requirement penalties?
Development may waive penalties if it is determined that payment would constitute a hardship to the homeowner. Hardships may include divorce, disability, illness, loss of income, and any other hardship supported by documentation and approved by Development.
Must the homebuyer remain at or below 80% AMI during the 20-year affordability timeframe?
No, the homebuyer must be at or below 80% AMI in order to be eligible to purchase the house; however, after the date of sale, their income will not be reverified.
Does the deed restriction prevent the original homebuyer from building equity since the sale price of the property needs to remain affordable for 20 years?
No. The deed restriction ensures the property remains affordable and owner-occupied. This prevents corporations or landlords from buying these properties at prices far greater than locals interested in homeownership would be able to afford.
Can I stack this program with other assistance?
You may stack this program with assistance you receive from a private lender or other nonprofit programs. This program is NOT eligible to be stacked with the City of Sandusky’s Housing Development & Beautification Program. Contact us for more information.
Financial Literacy Modules
I. Know Your Rights
The facilitator provides information addressing Fair Housing issues, identifying fair housing discrimination examples, and information on tenant rights and obligations.
II. Importance of Inspection
Overview of the home inspection process including items to look out for during the buying process.
III. Are You Ready to Buy a Home
General overview of the homeownership process. NTRs role in that process and the next steps.
IV. Managing Your Money
Budgeting overview, showing the importance of following a budget both pre and post purchase.
V. Obtaining a Mortgage Loan
Overview of the lending process and the criteria the local lenders are looking for to extend credit.
VI. Shopping For a Home
A real estate agent walks participants through their role in the home buying process.
VII. Understanding Credit - FICO
Overview of credit, how to maintain credit and the importance of maintaining good credit post home purchase.
VIII. Protecting Your Investment
Home insurance overview, what is generally covered by a policy. Seasonal maintenance and general maintenance review to help save money and protect their home for the future.
IX. Department of Utilities
Advice on how to reduce energy use, conserve energy and make the home more energy efficient.
X. Mortgage Documents
Review of all mortgage documents helping participants to understand what the documents they will be given/ asked to sign are saying.
XI. Wrap-Up and Certificates
Completion of the program.
