OHFA's target area loan product helps revitalize federally-designated target areas by making our affordable first-time homebuyer loan products and competitive interest rates available to any qualifying buyer purchasing a home in these areas.
What is a Target Area?
A target area is a census tract where the housing market is highly challenged. There are two types of target areas: Qualified Census Tracts (QCTs), which are based on household income data and designated by the U.S. Department of Housing and Urban Development (HUD), and Areas of Chronic Economic Distress (ACEDs), which are designated by OHFA and subject to federal approval. A home must be located in at least one of these to be eligible for a target area loan. Most Ohio counties contain both target and non-target areas. Determine whether a property is located within a target area by using the tool at the bottom of this page.
Am I Eligible?
Target Area Loan product applicants do not have to be first-time buyers. However, the following program requirements apply.
Credit Score Requirements
Loan Type:
Conventional, USDA and VA Loans: 640 or higher
FHA Loans: 650 or higher
For advice on improving your credit score, please contact a HUD-approved counseling agency in Ohio.
Debt to Income Ratios
Homebuyers must meet debt to income ratios for their loan type.
Income and Purchase Price Limits
Income and purchase price limits vary by Ohio county. View the income and purchase price limits in your area.
* Please view a complete list of eligibility criteria.
Homebuyer Education
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer.
How Do I Apply?
OHFA works with lenders, credit unions and mortgage companies across the state. Find an OHFA-approved lender in your area, along with tips to help you with the application process, or call us toll-free at 888.362.6432.
Target Area Map and Search
Scroll past the map below to enter in your search query.