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Kathy S. Koops GRI

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Ohio Bond Money and First Time Homebuyers

filed under: For Buyers posted on August 15th, 2015

Ohio Bond Money

Good news about Ohio bond money and first time homebuyers.  The Ohio Housing Finance Agency ( OHFA ) First Time Homebuyer Program serving the greater Cincinnati area continue to offer competitive interest rates and programs.

Credit score: The credit score for borrowers using OHFA’s First-Time Homebuyer program must equal at least 640 or higher.

Bond Money in Ohio

The following fees may apply to your OHFA loan:

  • .50% Origination Fee – Payable to Lender
  • .25% Adverse Market Fee on Conventional Loans – Payable to US Bank (FNMA charge)
  • $350 Funding Fee – Payable to US Bank
  • $85 Tax Service Fee – Payable to US Bank
  • $100 Admin Fee – Payable to OHFA

And each county has income and purchase limits.  Click on the county of your choice –  Butler, Clermont, Hamilton and Warren.  Make sure you are a qualified buyer and purchasing a qualified property within the acreage limitation.  OHFA has helped lots of first time homebuyers and if you need to talk a OHFA qualified lender-let me know and I’ll have one contact you.

Many buyers need to see if this is the best program -for many FHA home loans are a better deal.  Either way if you have a credit score of at least 640- you shouldn’t put off the decision to buy a home or condo. HomeSearch

Thinking about starting the house hunting process and need a lender or housing information –Call/Txt

 

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