Homeownership programs 
Ready to open the door to a home of your own? The Ohio Housing Finance Agency’s (OHFA) homeownership loan programs can help. Whether you are a first-time buyer or a buyer in a target area, OHFA and our lending partners have a program that’s right for you.
First-Time Homebuyer Program
Qualifying first-time homebuyers can choose from our competitive conventional and government-insured loans, all with 30-year, fixed-rate mortgages. Learn more about the First-Time Homebuyer Program.
Target Area Loan Program
Any qualified buyer purchasing a home in a federally-designated target area can benefit from this competitive loan program. Learn more about the Target Area Loan Program.
Ohio Heroes Program
Ohioans working in critical professions can take advantage of a special first-time homebuyer program with a lower interest rate. Learn more about the Ohio Heroes Program.
Down Payment Assistance Grant
Eligible buyers can combine OHFA's Down Payment Assistance Grant with our homeownership loan programs to help pay for down payments, closing costs, and other out-of-pocket expenses associated with buying a home. Learn more about the Down Payment Assistance Grant.
Grants for Grads Program
Recent college graduates, including those earning a postgraduate degree, may be eligible to receive 2.5% of their home's purchase price to help pay for down payment and closing costs when you apply within 18 months of earning your degree. Learn more about the Grants for Grads Program.
Homebuyer Advantage Program
Get a loan of up to 3% of your home purchase price to help with down payment and closing costs when you use our homeownership programs. Learn more about the Homebuyer Advantage Program.
Mortgage Credit Certificate Program
For qualifying homebuyers, a Mortgage Credit Certificate (MCC) can increase a household's income by reducing federal income tax liability, giving the household additional funds that can be used to make mortgage payments. Learn more about the Mortgage Credit Certificate Program.
Important Information for Homebuyers
First-Time Homebuyer Tax Credit as amended by the Worker, Homeownership and Business Assistance Act of 2009 (November 2009)
Efforts to continue stabilizing and strengthening both the economy and housing industry expanded when Congress and President Obama recently passed the Worker, Homeownership and Business Assistance Act of 2009. One of the provisions in this important legislation is the extension of the federal tax credit for first-time homebuyers, originally created in the American Recovery and Reinvestment Act (February 2009). Homebuyers receive a credit on their income tax return for 10 percent of the home's value, up to $8,000. (Married individuals filing separately can claim up to $4,000.) Income limits have been increased, as well, to $125,000 for single tax filers and $225,000 for joint tax filers.
Borrowers can claim the credit if they are a traditional first-time homebuyer or have not had an ownership interest in their home in the previous three years. Now they must also enter into a contract by April 30, 2010 and close on the home by June 30, 2010. The federal tax credit can be used in conjunction with OHFA's Mortgage Credit Certificate or with our First-Time Homebuyer Program.
Current homeowners now have the ability to purchase a replacement home and claim a federal tax credit of up to $6,500 ($3,250 for married individuals filing separately). To be eligible, they must have lived in the same residence for at least five consecutive years during the previous eight-year period, beginning on the date they close on the new home.
More information about the new tax credit is available from the IRS web site.
