OHFA, the Ohio Housing Finance Agency’s First Time Home Buyer Program, continues to support some of the greater Cincinnati housing sales.
If the information below is not detailed enough or if you are considering buying or selling your house or condo- call for detailed market analysis. Or Subscribe.cincinnati homes for sale
Many first time home buyers in greater Cincinnati don’t realize OHFA has money targeted for areas in all 4 counties. If you need more details about specific cities, villages or areas you can review this handout.
All OHFA qualified borrowers must meet each of the following three criteria:
- Meet credit score requirements. The credit score for borrowers NOT using OHFA Down Payment Assistance must equal at least 620 or higher. The credit score for borrowers using OHFA Down Payment Assistance must equal at least 640 or higher.
- Have a signed Purchase Agreement for a qualifying property.
- Qualify for the loan being requested. Lenders will assess your ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.
Some other interesting facts:
- The “First -Time Homebuyer Program” does not exclude everybody who previously owned a home.
- Down payment assistance is available
- Military, Healthcare Workers, Firefighters, EMT’s or Paramedics. Police Officers and Teachers can obtain a lower interest rate through the program
- Eligible for 203k loan
Qualified buyers using OHFA continue to have a unique tool to use if they are really interested in buying real estate in greater Cincinnati. Paying rent now and think you might be better off purchasing -try using this simple rent vs buy calculator.
If you need the names of lenders or help finding a property to help is only a phone call away…..Click here to to Call: 513-300-4090,by email.
Related Article: Update on Program.