|FOR IMMEDIATE RELEASE
Friday, June 1, 2012
|Media Contact: Arlyne Alston
OHFA Recognizes National Homeownership Month, Examines Strategies to Improve Access to Affordable Housing in Underserved Areas of Ohio
COLUMBUS – June is nationally recognized as Homeownership Month –- a time to highlight the critical role of homeownership in improving lives, creating jobs and strengthening communities across the country. As the Ohio Housing Finance Agency (OHFA) joins the nation and Ohio Governor John Kasich in recognizing Homeownership Month, the Agency is working to raise awareness of its programs available to potential homebuyers and homeowners, particularly in the areas most impacted by the lack of affordable housing options.
"Ohio families have trusted OHFA to provide the tools, education and services that make successful homeownership possible since its inception in 1983," said Doug Garver, OHFA Executive Director. "Through OHFA's affordable and stable lending products for first-time homebuyers, sustainable homeownership has become a reality for many underserved Ohio families who may not afford a home otherwise."
OHFA has helped more than 140,000 families open the doors to an affordable place to call home over 29 years. The Agency offers competitive, fixed-rate mortgages through a variety of programs for potential homeowners ranging from First-Time Homebuyer programs to foreclosure prevention programs. OHFA also offers a down payment assistance grant for up to two and a half percent of the home's purchase price. The grant can be used for assistance with down payment costs, closing costs and other prepaid expenses incurred prior to closing.
OHFA continues to focus attention on minority populations and underserved areas of the state where the need for affordable housing opportunities outweigh availability. Recently, a study funded by OHFA and the Ohio Department of Development was released identifying the need for an increase in affordable housing in the Appalachian region of Ohio. Part of a multifaceted research project, the analysis, titled Affordable Housing Market Study of 32 Appalachian Ohio Counties, can be found online at www.ohiohome.org.
"The Agency will continue to conduct extensive research and analysis of affordable homeownership programs to effectively strategize avenues to increase the availability of affordable housing opportunities in underserved regions of Ohio," Garver said.
In recognition of Homeownership Month, OHFA has planned educational outreach efforts to provide information on homeownership and financial tools available to Ohio families. To access more information on Homeownership Month and OHFA programs, visit www.ohiohome.org or call 888.362.6432.
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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also the administrator of the state's foreclosure prevention program, Restoring Stability: A Save the Dream Ohio Initiative.