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March 15, 2016
by Shayla Concannon

Are you a first time home buyer?

If you are looking to purchase your first home, this article is chalked full of information!  Learn about loan availability, loan variations and loan qualifications- this knowledge could save you money and time in the first steps of your home buying process.

First-Time Homebuyer Program

Applicants for the First-Time Homebuyer Program must meet OHFA income limits, and properties must meet purchase price limits. The limits vary by county. Check participating lenders, income and purchase price limits.

To qualify for OHFA’s First-Time Homebuyer Program, you must meet at least one of the four qualifying categories:

All OHFA qualified borrowers must meet each of the following three criteria:

Additional property requirements:

How to Apply

OHFA partners with a variety of Ohio lenders including banks, mortgage companies and credit unions to make our loans available on a continuous basis year round. Learn more about the loan process or contact a participating lender to apply.

Loan Types

To meet each homebuyer’s needs, OHFA offers several different loan products including:

OHFA also permits Streamlined 203(k) loans and certain weatherization options. All OHFA loan products offer competitive rates and other beneficial features. Your lender can help you choose the right loan for your needs

 loan Features/Benefits

Loan Fees

The following fees may apply to your OHFA First-Time Homebuyer Program loan:

Down Payment Assistance

If you need or want assistance with your down payment and closing costs, OHFA offers either Down Payment Assistance or a Grants for Grads product which can significantly reduce your out-of-pocket expenses.

Homebuyer Education is Required on All OHFA Homebuyer Programs

Visit the homebuyer education page to learn more.

About Recapture Tax

OHFA will reimburse borrowers for the full amount of any recapture tax in the rare instances where tax repayment is required. Learn more.

Downloadable Information

You can download information about our loan products from our download center.


Your lender and/or real estate agent can guide you through the home buying process and answer any questions you may have regarding the OHFA First-Time Homebuyer Program. You can also check out our homeownership FAQs.

If you need additional information, please contact:

Office of Homeownership
Ohio Housing Finance Agency
57 East Main Street
Columbus, Ohio 43215

Not a First-Time Homebuyer?

You can still take advantage of OHFAs competitive rates by purchasing a home in a target area. Learn more.

Are You an Ohio Hero?

Benefit from a 1/4% lower interest rate on your loan. Learn more.

Source: First Time Home Buyer


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