Ohio - Government Backed Loans

The Ohio Housing Finance Agency offers affordable housing opportunities for Ohioans from rental assistance to homeownership. OHFA provides access to financial resources for the development and management of quality, affordable housing. The Agency's programs serve first-time homebuyers, renters, senior citizens and other populations with special needs who otherwise might not be able to afford quality housing.

Refinance Programs

Opportunity Loan Refinance Program

Through the Opportunity Loan Refinance Program, affordable, 30-year, fixed-rate refinancing loans are available to homeowners who are no longer able to meet monthly mortgage payments. A second mortgage is also available in order to assist with closing costs. This second loan has a 20-year term is provided in the amount of 5% of the home's value.

Continue reading about the Opportunity Loan Refinance Program.

Purchase Programs

First-Time Homebuyer Program

The First-Time Homebuyer Program offers first-time homebuyers low-interest, fixed-rate, 30-year mortgages, and allows borrowers to select a mortgage rate that best suits their needs. Downpayment and closing costs assistance is also available with a slightly higher mortgage rate. Borrowers are given the choice between a downpayment assistance grant in the amount of 3% of the home's purchase price, or second loan in the amount of 4% of the home's purchase price.

Continue reading about the First-Time Homebuyer Program.

Ohio Heroes Program

The Ohio Heroes Program offers 30-year, fixed-rate mortgages to homebuyers who are employed as active military servicemen and women, emergency medical technicians, firefighters, healthcare workers, military veterans, paramedics, police officers or teachers. Mortgage loans are provided at 1/4% below First-Time Homebuyer rates.

Continue reading about the Ohio Heroes Program.