Myohiohome.org Website Review

The Ohio Housing Finance Agency offers down payment as*istance, career-related interest rate discounts and other loan products to make homebuyers to choose either 2.5% or 5% of the home's purchase price. As*istance can be applied toward your down payment, closing costs or other pre-closing expenses. Down payment as*istance is forgiven after seven years. If you sell or refinance your home within seven years, A Mortgage Tax Credit provides first-time homebuyers with additional income by reducing the amount of federal income tax liability owed by the borrower. With an MTC, a portion of the mortgage interest (up to $2,000) is a tax credit, a dollar-for-dollar reduction of income tax liability for the life of the loan. The tax credit cannot be larger than the homeowner's annual federal income tax liability after If you are in the market for a home and need financial help, additional down payment grants in the amount of $1,500 or $2,500 are available. The OHFA Advantage program helps homebuyers with good credit, but lower incomes. These grants can only be used with conventional loans and are in addition to OHFA's Your Choice! Down Payment As*istance with no additional costs. Learn more about OHFA OHFA has incentives for future homeowners. If you have any questions, please write us using the form below. As the state's affordable housing leader, the Ohio Housing Finance Agency offers a variety of programs to help first-time homebuyers, renters, senior citizens and others find quality affordable housing that meets their needs.