Find answers to some of the most frequently asked questions we hear from prospective buyers.

Do I have to be a first-time homebuyer to use your products?
No, OHFA offers homeownership products to Ohioans who have not owned or had an ownership interest in a primary residence in the last three years. OHFA also offers the Next Home program, which serves homebuyers who previously owned a home.
How do I start the application process and choose a lender?

OHFA's products are originated through a network of participating lenders with offices throughout Ohio. Find a participating lender in your area.

You can also learn more about the process by visiting the what to expect section. If you need additional information, call the Office of Homeownership at 614.466.7970 or 1.888.362.6432.
Do I need to have a down payment in order to purchase a home? Is down payment assistance available?

You may need to have a down payment, depending on the specific product you choose. However, OHFA does offer down payment assistance equal to 2.5% or 5% of the home's purchase price. Homebuyers have the option to choose the amount (2.5% or 5%) toward their down payment, closing costs and other expenses incurred prior to closing.

An additional down payment assistance grant of $1,500 or $2,500 is available to homebuyers whose income falls within 50 percent or 80 percent of the area median income. Please click here to learn more about the OHFA Advantage program.
How can I determine if I'm eligible for OHFA's products?
Potential homebuyers can use our Am I Eligibe? page to determine if they might qualify for an OHFA loan.
Do I need to buy a home in a certain area to qualify?
OHFA's homebuyer programs can be used throughout the state of Ohio.
What types of mortgage loans does OHFA offer?
The Ohio Housing Finance Agency (OHFA) offers several affordable loan options to help you achieve your dream of homeownership. OHFA offers 30-year fixed rate FHA, VA, USDA-RD and conventional mortgage loans designed especially for homebuyers with low- and moderate-incomes, with generous income and purchase price limits.
What is the difference between government and conventional loans?
Government loans are geared toward the first-time homebuyer with good credit and the ability to make monthly payments over the life of the loan, but may not qualify for a conventional loan. Mortgage insurance for government loans is higher. Conventional loans require private mortgage insurance if the homebuyer has less than 20% down payment. Private mortgage insurance may be less expensive than government insured loans, but the credit standards are often higher. Visit for more information.