Not sure you can afford to buy a home? If you’re a first-time buyer, you may have a secret weapon you don’t know about—the Ohio Housing Finance Agency.
OHFA basically connects potential homebuyers who may not qualify for conventional loans with government-funded programs that give them access to discounted interest rates, down payment assistance, or federal tax credits on their mortgage interest. They’ve helped more than 10,000 first-time buyers purchase homes in Ohio since 2012.
Their website offers info on programs that help recent graduates; service workers such as nurses, firefighters, and police; and folks buying houses in certain target areas, including downtown, Elmwood Place, Newtown, Norwood, and more. And if you’re not a first-time buyer, you might still make the cut if you have not owned or had an ownership interest in a house in the last three years.
The folks at OHFA remind us that the benefits of homeownership include stable housing costs (fixed-rate mortgages don’t increase with inflation), wealth accumulation (gotta love that home equity), and the sense of security that comes with no risk of eviction (no more scary landlords).
Want to get started? Their easy-to-use questionnaire on eligibility is a great first step. Just be sure to invite us to the housewarming party.
Get more info at myohiohome.org.