The Ohio Housing Finance Agency's (OHFA) Next Home provides 30-year, fixed-rate mortgages to buyers who currently own a home, or have owned a home in the past three years but lack the equity to purchase a new home. Loans available through Next Home include conventional and FHA, VA and USDA-RD government loans.
Buyers using Next Home receive down payment assistance equal to 2.5% or 5% of the home's purchase price.
You may qualify for an OHFA Next Home loan if:
* Please view a complete list of eligibility criteria.
Note: if you continue to own your current home, it may affect your income eligibility.
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD) approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer.
OHFA works with lenders, credit unions and mortgage companies across the state. Find an OHFA-approved lender in your area, along with tips to help you with the application process or call us toll-free at 888-362-6432.