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Down Payment Assistance Program | Ohio Housing Finance Agency

2600 Corporate Exchange Drive, Suite 300, Columbus, OH 43231

Designated Parking.

Eligibility

To qualify for the program: - Must be a first-time homebuyer. - Meet specific income, purchase price, and credit score guidelines. Call or visit the website for details. In addition, homebuyer must either: - Complete a free homebuyer education course offered by any housing counseling agency approved by the United States Department of Housing and Urban Development, or - Use the streamlined OHFA homebuyer education program.

Required documents

Will be requested as needed.

Hours

Same as site hours.
https://www.ohiohome.org
[email protected]

Languages

None.

Application process

Call the office or visit the website for more information or to apply for the program.

Fees

Provides eligible borrowers with a forgivable grant in the amount for 3% for conventional loans or 3.5% for government loans (FHA, VA, USDA) of the home's purchase price. Assists borrowers to pay for the down payment, closing costs, or other prepaid expenses incurred prior to closing (may not cover all out-of-pocket expenses required). NOTE: Using the grant will result in a slightly higher interest rate. The assistance is forgiven after seven (7) years and must be paid back if the home is sold within seven (7) years.

Service area

Ohio

Description

Offers first-time homebuyer's down payment and closing cost assistance and a favorable mortgage interest rate through Ohio Housing Finance Agency's (OHFA) Down Payment Assistance Program. Gives eligible borrowers use of the grant to reduce the out-of-pocket expenses associated with buying a home.

Data provided by

211 Summit

Providing organization

Ohio Housing Finance Agency

Offers affordable housing opportunities for Ohioans. Provides access to financial resources for the development and management of affordable, safe, and sanitary housing. Serve first-time homebuyers and other populations who otherwise might not be able to afford quality housing.