The Ohio Housing Finance Agency offers down payment assistance, career-related interest rate discounts and other loan products to make buying a home or condo easier.
Find Out If You're Eligible
Your Choice! Down Payment Assistance allows homebuyers to choose either 2.5% or 5% of the home's purchase price. Assistance can be applied toward your down payment, closing costs or other pre-closing expenses. Down payment assistance is forgiven after seven years. If you sell or refinance your home within seven years, you must repay all of the assistance provided. Learn more about Down Payment Assistance.
A Mortgage Tax Credit provides first-time homebuyers with additional income by reducing the amount of federal income tax liability owed by the borrower. With an MTC, a portion of the mortgage interest is a tax credit (up to $2,000), a dollar-for-dollar reduction of income tax liability for the life of the loan. The tax credit cannot be larger than the homeowner's annual federal income tax liability after deductions, exemptions and other credits. Learn more about the Mortgage Tax Credit.
Updated 9/28/2016 at 9:30am
If you use the Mortgage Tax Credit with OHFA's First-Time Homebuyer program for your mortgage, you will be able to convert 40% of your mortgage interest, up to $2,000, into a direct tax credit.
If you elect to use 2.5% or 5% down payment assistance you will pay a slightly higher mortgage interest rate.
OHFA has incentives for future homeowners. If you have any questions, please write us using the form below.
The Ohio Housing Finance Agency | 57 East Main Street | Columbus, Ohio 43215
Toll Free 888.362.6432 | Phone 614.466.7970 | Fax 614.644.5393 | TDD 614.466.1940
John Kasich, Governor, State of Ohio | Douglas A. Garver, Executive Director Legal Statement and Policies