OHFA 2021 Fourth Quarter Agency at a Glance

OHFA UPDATE - PAGE 3 - 2022 FIRST QUARTER Residential Lending was excited to offer a new program to homebuyers in April 2022. The Over 80% Area Median Income (AMI) Conventional Loan program gives homebuyers more flexibility in the loan program they can choose to help them finance their home. Homebuyers can choose from 2.5% or 5.0% down payment assistance or an unassisted option. There are also options to link with the Mortgage Tax Credit and Next Home programs. This program is a way for OHFA products to remain competitive after the Federal Housing Finance Agency (FHFA) imposed restrictions in 2019 on Fannie Mae and Freddie Mac which limited the benefits of the HFA Preferred and HFA Advantage conventional programs to borrowers whose qualifying income is 80% AMI or less. In the first quarter of 2022, 1,411 loans have been reserved, with an average loan amount of $155,278. The average credit score is 704 and the median household income is $55,504. Compared to the same time period last year, there has been a 40% increase in black homeownership. Loans Amount Share First Time Homebuyer 1,372 $212,228,771 97% Next Home 39 $6,868,240 3% Loans Amount Share Conventional 476 $70,515,465 32% Government 935 $148,581,546 68% Loans Amount Share Ohio Heroes 217 $38,260,636 17% Grants for Grads 78 $13,223,336 6% Loans Amount Share Unassisted 269 $45,371,405 21% 2.5% DPA 163 $25,313,729 12% 5.0% DPA 979 $148,411,877 68% Residential Lending is excited to participate in in-person events with entities such as the Columbus Mortgage Bankers Association, such as the upcoming “Build a Bike” event that benefits a local youth organization by constructing bicycles for their participants. Their event will bring together members of the mortgage banking and real estate community to support the local charity. The teams will also create cards for each child receiving a bike, sharing positive messages. This high energy event will include a DJ, videographer, Olympic-style trophies, catered food and, most importantly, fun! OFFICE OF SINGLE FAMILY HOUSING RESIDENTIAL LENDING UPDATE ERIN HIGGINS RESIDENTIAL LENDING MANAGER TOTAL LOANS 1,411 MEDIAN HOUSEHOLD INCOME $55,504 GRANTS FOR GRADS 11% AVERAGE LOAN AMOUNT $155,278 TOTAL AMOUNT $219,097,011 AVERAGE SALES PRICE $160,326 MEDIAN BORROW AGE 31 AVERAGE FICO CREDIT SCO E 704 AVERAGE HOUSEHOLD SIZE 2.03