OHFA 2022 Second Quarter Agency at a Glance

OHFA UPDATE - PAGE 5 - 2022 SECOND QUARTER OFFICE OF SINGLE FAMILY HOUSING It was a busy second quarter for the Office of Single Family Housing. The Save the Dream Ohio program (Homeowner Assistance Fund, HAF) continues to help Ohioans that have been financially impacted by the pandemic and are struggling to pay their mortgage, property taxes, and utility bills. At the end of the second quarter, OHFA has provided more than $25 million in Mortgage Payment Assistance and more than $8 million in assistance through the Utility Assistance Plus component of the program. OHFA will begin a paid advertising campaign in the third quarter to increase awareness of the program throughout the state. For more information visit the Save the Dream Ohio website . The Housing Preservation Division welcomed new lenders: Norcom Mortgage, Cleveland Mortgage Corporation, US Mortgage Corp, NP Inc., and Doorway Home Loans to the OHFA team. The Division also processed 455 releases and satisfaction of second mortgages totaling $2,373,355. For the last fiscal year, the top 20 lenders covered 80% of the production in our programs, which equates to 3,093 loans ($459,423,495). At the end of the fiscal year on June 30, the Residential Lending Division had helped 3,888 Ohio families by a new home! We are very proud to have been a part in making dreams of homeownership come true. The Division also served 86 of 88 counties which is the highest number in recent years. The team continues to work to its goal of serving all 88 counties. The volume continues to remain steady despite the rise in interest rates. More than 5,000 potential homeowners reserved a loan in our program this fiscal year. OHFA also has partnered with the National Mortgage Bankers Association and The Ohio State University to launch Convergence Columbus. The goal is to increase homeownership within the Black community in the city of Columbus. The lessons learned from this partnership will be used to expand homeownership in minority communities statewide. We value the partnerships with have with our participating lenders, homebuyer education counseling agencies, mortgage insurance companies, and all that share our mission to open the doors to an affordable place to call home for all. Loans Amount Share First Time Homebuyer 3,629 $547,182,611 93% MTC Plus 170 $26,094,417 4% Next Home 89 $15,272,204 3% Loans Amount Share Conventional 1,274 $181,167,833 31% Government 2,614 $407,381,399 69% Loans Amount Share Ohio Heroes 554 $97,361,819 17% Grants for Grads 197 $32,889,968 6% Loans Amount Share Unassisted 805 $124,961,236 21% 2.5% DPA 514 $81,086,141 14% 5.0% DPA 2,569 $382,501,855 65% TOTAL LOANS 5,127 MEDIAN HOUSEHOLD INCOME $54,841 GRANTS FOR GRADS 11% AVERAGE LOAN AMOUNT $151,376 TOTAL AMOUNT $788,585,686 AVERAGE SALES PRICE $156,519 MEDIAN BORROW AGE 32 AVERAGE FICO CREDIT SCO E 705 AVERAGE HOUSEHOLD SIZE 2.05