FOR IMMEDIATE RELEASE
Thursday, June 13, 2024
Media Contact: Penny Martin
Phone: 614.728.2911
Email: pmartin@ohiohome.org
OHFA Homebuyer Programs Surpass $1 Billion in Mortgage Reservations
COLUMBUS, OH - In recognition of Homeownership Month, the Ohio Housing Finance Agency (OHFA) announced it has exceeded a $1 billion milestone of gross mortgage reservations for its homebuyer assistance programs. The Agency has reserved more than 6,600 loans to reach this gross mortgage reservation volume for the state fiscal year (July 1, 2023 - June 30, 2024).
"This milestone is a reflection of how our programs are helping Ohioans in this challenging real estate market. OHFA's down payment assistance and discounted mortgage rates can be a helping hand borrowers need to realize their dream of homeownership," said Governor Mike DeWine. The Ohio Housing Finance Agency works with more than 120 lenders throughout the state to provide discounted mortgage rates, down payment assistance, and other loan products to make buying a home more affordable. The Agency offers 30-year, fixed-rate conventional, FHA, VA, and USDA-RD government loans with generous income and purchase price limits, designed especially for homebuyers with low- and moderate-incomes.
"A billion dollars in loan reservations equates to 6,600 Ohioans becoming homeowners this state fiscal year. We're proud of this achievement in such a challenging market," said Shawn Smith, executive director of OHFA. "We'll continue to work to make homeownership, and all the joys that come with it, possible for more Ohioans. I'd like to thank all of our partners and staff for their hard work over this past year to benefit so many of our state's residents."
The Your Choice! Down Payment Assistance program allows homebuyers to choose either 2.5% or 5% of the home's purchase price to be applied toward the down payment, closing costs or other pre-closing expenses. While Grants for Grads provides a discounted mortgage interest rate to recent graduates with an associate's, bachelor's, master's, doctorate, or other post-graduate degree from an accredited school of higher education. And, the Ohio Heroes program provides Ohio veterans, active-duty military members, members of reserve components, police officers, firefighters, volunteer firefighters, EMTs, paramedics, doctors, nurses (RN, LPN, and STNA), and pre-K through 12th grade teachers, administrators, and counselors with a discounted mortgage interest rate.
More information on the Ohio Housing Finance Agency programs can be found at myohiohome.org. myohiohome.org.
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information.