Ohio OHFA Down Payment Assistance

How is Ohio OHFA Down Payment Assistance paid back?

Forgivable loan: forgiven after seven years; repay it all if you sell sooner.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

Who qualifies for Ohio OHFA Down Payment Assistance?

• Limits vary by Ohio county, with separate limits for targeted areas.
• You don't have to be a first-time buyer.
• A credit score of 640 or higher.
• A homebuyer education course before you buy.
• It comes with an OHFA FHA, VA, USDA-RD or conventional mortgage loan.
• Price limit: varies by county.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Ohio OHFA Down Payment Assistance

1. Ohio Housing Finance Agency pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Ohio Housing Finance Agency's page for OHFA Down Payment Assistance, or pick a lender from the agency's list of participating lenders.

Other first-time buyer programs in Ohio

• Ohio Grants for Grads: up to 3.5% of the price, forgivable loan.

All Ohio first-time home buyer programs · Down payment assistance in every state