First-time homebuyers in Cincinnati are lucky!

Source: LendingTree.com

According to LendingTree, we rank #4 on the first-time homebuyer-friendly index.  The factors LendingTree took into consideration were:

• Average down payment amount
• Average down payment %
• Share of buyers using FHA mortgage
• Average FHA down payment as a % of the average down payment for all loans
• % of buyers who have credit scores below 680
• The Housing Opportunity Index for the area

Cincinnati ranked 6th in the % of buyers using an FHA mortgage.  And it was #2 in the nation behind only Indianapolis when it comes to the Housing Opportunity Index score of 84

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Impact on Buyers

While it ranked high, Cincinnati isn’t the best Ohio city on the list. Cleveland and Pittsburgh are the best cities in the nation for first-time buyers.   And Columbus wasn’t far behind the Queen City at No. 7.

Housing prices may seem out of reach in Greater Cincinnati. However, compared to other areas we’re very affordable.

To see the full ranking, click here.

More resources:  Common Home Buying Mistakes