The mortgage interest rate for your OHFA loan depends on the homeownership product for which you qualify and if you choose to take advantage of down payment assistance or other product options. Rates are subject to change daily. Mortgage rates are updated every Monday through Friday at 9:30 AM.
Credit Score Requirements
Loan Type:
Conventional, USDA, VA and FHA 203(k) Loans: 640 or higher
FHA Loans (Non-203(k)): 660 or higher. Credit scores of 650-659 are acceptable for an additional fee.
For advice on improving your credit score, please contact a HUD-approved counseling agency in Ohio.
Mortgage Interest Rates
– Updated 9/23/19 at 9:30am
Traditional First-Time Homebuyer Program |
| Government Loans (FHA, VA, USDA-RD) 30-Year Fixed Rate Loans |
| |
First-Time Homebuyer Program |
Ohio Heroes |
Grants for Grads |
| With No OHFA Assistance |
3.50% |
3.25% |
N/A |
| With 2.5% OHFA Assistance |
4.50% |
4.25% |
4.375% |
| With 5% OHFA Assistance |
5.125% |
4.875% |
5.00% |
| Conventional 30-Year Fixed Rate Loans |
| |
First-Time Homebuyer Program |
Ohio Heroes |
Grants for Grads |
| With No OHFA Assistance |
3.875% |
3.625% |
N/A |
| With 2.5% OHFA Assistance |
4.75% |
4.50% |
4.625% |
| With 5% OHFA Assistance |
5.25% |
5.00% |
5.125% |
Next Home |
| Government Loans (FHA, VA, USDA-RD) 30-Year Fixed Rate Loans |
| |
Non-First-Time Homebuyer Program |
Ohio Heroes |
| With No OHFA Assistance |
3.50% |
3.25% |
| With 2.5% OHFA Assistance |
4.625% |
4.375% |
| Conventional 30-Year Fixed Rate Loans |
| |
Non-First-Time Homebuyer Program |
Ohio Heroes |
| With No OHFA Assistance |
4.375% |
4.125% |
| With 2.5% OHFA Assistance |
5.125% |
4.875% |
MTC Plus |
| Government Loans (FHA, VA, USDA-RD) 30-Year Fixed Rate Loans |
| |
First-Time Homebuyer Program |
Ohio Heroes |
Grants for Grads |
| With No OHFA Assistance |
3.50% |
3.25% |
N/A |
| With 2.5% OHFA Assistance |
4.625% |
4.375% |
4.50% |
| Conventional 30-Year Fixed Rate Loans |
| |
First-Time Homebuyer Program |
Ohio Heroes |
Grants for Grads |
| With No OHFA Assistance |
4.375% |
4.125% |
N/A |
| With 2.5% OHFA Assistance |
5.125% |
4.875% |
5.00% |
FHA 203(k) Renovate Ohio |
| Government Loans (FHA, VA, USDA-RD) 30-Year Fixed Rate Loans |
| |
First-Time Homebuyer Program & Next Home |
Ohio Heroes (FTHB & NH Only) |
Grants for Grads (FTHB Only) |
| With No OHFA Assistance |
4.00% |
3.75% |
N/A |
| With 2.5% OHFA Assistance |
5.75% |
5.50% |
5.625% |
Additional Rate Sheet
