Mortgage Rates

6.125% for loans without down payment assistance
6.625% for loans with down payment assistance
8.125% for 4% second mortgage

5.875% for Ohio Heroes without down payment assistance
6.375% for Ohio Heroes with down payment assistance
7.875% for Ohio Heroes 4% second mortgage

30-year, fixed-rate FHA/VA/USDA RD/conventional loans are eligible
2-1 buy downs are permitted

Fees

1% origination fee
$150 transfer fee

$79 tax service fee
.25% adverse market fee (conventional loans only)

Qualified Borrowers

Nontargeted areas: First-time buyer (persons not owning and occupying their principal residence in past three years)

Targeted areas: Anyone may purchase, but must reside in the property  (View Ohio's targeted areas)

Everyone must meet certain household income limits

Acreage Limitation

Up to two acres (unless additional acreage is required by local health or safety code)

Qualified Properties

Existing house: 1-unit single family dwelling and duplex up to 4 units

Spec/Nearly completed house: 1-unit single family dwelling

Modular/Manufactured house: 1-unit single family dwelling

Properties must meet certain sales price limits

To Apply

Contact lender in your county. Applicants must have a signed purchase agreement, most recent pay stubs and past three years federal tax returns.
Lender locations by county

Note:  The recapture tax provision applies to all loans in this program. View this IRS link for an explanation on recapture of federal subsidy.

LOANS ARE AVAILABLE ON A FIRST-COME, FIRST-SERVED BASIS

The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry.

First-Time Homebuyer Program

Income Limits/Sales Prices/Lenders by County

Homebuyer FAQs

Recapture Tax Reimbursement