News Release 
| FOR IMMEDIATE RELEASE February 13, 2007 |
Media Contact: Erin Biehl, ebiehl@ohiohome.org Phone: 614.387.2863 |
OHIO'S FIRST-TIME HOMEBUYER PROGRAM REACHES 100,000 MARK
Hilliard family recognized as 100,000th family to participate in Ohio's First-Time Homebuyer Program
COLUMBUS — The Ohio Housing Finance Agency (OHFA), the state's affordable housing entity, yesterday recognized its 100,000th family for utilizing Ohio's First-Time Homebuyer Program. This is a considerable milestone for the Agency, which has been serving homebuyers throughout Ohio for the past 24 years.
Representatives from the City of Hilliard, the State of Ohio, National City Bank and OHFA recognized Agim and Arta Pashaj, along with their two children Xhesina and Xhon, at their home located in Hilliard. The Pashaj family, originally from Albania, purchased their first home in December.
“The Pashaj family, like so many other Ohio families over the last two decades, have had the opportunity to fulfill the dream of homeownership through Ohio's First-Time Homebuyer Program,” said Douglas Garver, executive director of OHFA. “This program has significantly evolved over the years to meet the homeownership needs in Ohio, reaffirming our commitment to providing affordable, quality housing.”
The First-Time Homebuyer Program serves those who are either first-time homebuyers, those who have not owned a home in the last three years, or someone purchasing in a targeted area. To be eligible for the program, individuals must meet certain income and purchase price limits. In 2006, OHFA closed a record $1.1 billion in loans helping 9,916 Ohio families purchase a home. The Agency works with 184 lenders across the state to market its mortgage product.
OHFA offers 30-year, fixed-rate mortgage loans at an interest rate competitive with market rates. Options available in the OHFA First-Time Homebuyer Program include the traditional FHA/VA/USDA Rural Development loans and My Ohio Mortgage, a Fannie Mae conventional loan product that provides borrowers with options and flexible terms. The Agency also offers down payment and closing cost assistance to eligible borrowers reducing out-of-pocket expenses.
OHFA utilizes federal and state resources to provide housing opportunities for families and individuals through programs designed to create, preserve, and manage affordable housing throughout the State of Ohio. The Agency is a self-supporting quasi-public agency governed by an eleven-member board, nine of whom are appointed by the Governor and confirmed by the Senate. Two additional seats on the board, by statute, are reserved for the Director of Development and the Director of Commerce, or their designees, and both serve as ex officio voting members.
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