OHFA's Next Home program provides 30-year, fixed-rate mortgages to those who are not first-time homebuyers. Available loans include conventional, FHA, VA and USDA-RD government loans.

Homebuyers are able to couple Next Home with 2.5% YourChoice! Down Payment Assistance and OHFA Advantage Assistance. Homebuyers are not required to use these down payment assistance products if they have their own down payment funds*.

*OHFA Advantage Assistance can only be used with conventional loans.

Am I Eligible?

You may qualify for an OHFA homebuyer program if you meet the criteria listed below:

  • You must meet income and purchase price limits.
  • You meet debt to income ratios for your loan type.
  • You must meet credit score requirements. Credit score requirements may be higher for different loan types. Please check with your lender for specific requirements.
    • 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.
  • The home will serve as your primary residence.
  • You will occupy the property within 60 days of closing.

Note: If you continue to own your current home, it may affect your income eligibility.

Homebuyer Education

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. Homebuyer Education is not required for borrowers who are only registered for our MTC Basic program.

How Do I Apply?

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.