The Ohio Housing Finance Agency (OHFA) facilitates the development, rehabilitation and financing of low- to moderate-income housing. The Agency's programs help first-time homebuyers, renters, senior citizens, and others find quality affordable housing that meets their needs. Formerly a division of the Ohio Department of Development, OHFA became an independent state agency on July 1, 2005 through Amended Substitute House Bill (HB) 431. OHFA funds competitive fixed-rate mortgage loans and provides financing for the development and rehabilitation of affordable rental housing through the Housing Tax Credit program, issuing tax-exempt mortgage revenue bonds, and other affordable housing programs.
OHFA helps low- to moderate-income Ohioans purchase homes and provides opportunities through financing quality and affordable rental housing. The Agency offers financial incentives for developers to increase the supply of affordable rental housing. OHFA administers different funding programs, including the Housing Tax Credit program, which for-profit and nonprofit developers can use to develop new or rehabilitate existing affordable rental housing. The Agency helps property managers maintain safe, affordable housing environments through its compliance programs. OHFA monitors more than 1,000 multifamily properties throughout the state. Finally, the Agency provides financing for competitive fixed-rate mortgages by issuing tax-exempt mortgage revenue bonds and partners with real estate professionals and mortgage lenders. Since its creation, OHFA has made affordable mortgage loans to more than 143,000 Ohioans and facilitated the creation of more than 89,000 affordable rental housing units.