These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Ohio 

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Your Choice! Down Payment Assistance

  • Assistance: Offers homebuyers the choice of 2.5% or 5% of the home's purchase price to be used toward down payment and/or closing costs.

  • Terms: Forgivable second mortgage, forgiven after seven years if the buyer remains in the home. If the home is sold or refinanced within that period, repayment is required.

  • Eligibility: Homebuyers must meet OHFA's income and purchase price limits, as well as credit score requirements (minimum 640 for conventional, USDA, and VA loans; 650 for FHA loans).

  • More Information: OHFA Down Payment Assistance

Grants for Grads Program

  • Assistance: Provides 2.5% or 5% down payment assistance to recent graduates who have earned an associate, bachelor's, master's, or doctorate degree within the past 48 months.

  • Terms: Forgivable second mortgage, forgiven after five years if the borrower remains in Ohio.

  • Eligibility: Graduates must meet OHFA's income and purchase price limits, as well as credit score requirements.

  • More Information: https://myohiohome.org/grantsforgrads.aspx

Ohio Heroes Program

  • Assistance: Offers a 0.25% interest rate reduction on mortgage loans for eligible public service professionals.

  • Eligibility: Available to veterans, active-duty military, police officers, firefighters, EMTs, paramedics, physicians, nurses, and teachers. Applicants must meet OHFA's income and purchase price limits, as well as credit score requirements.

  • More Information: https://myohiohome.org/ohioheroes.aspx

Cuyahoga County Down Payment Assistance Program

  • Administered by: CHN Housing Partners

  • Assistance: Provides eligible homebuyers with assistance equal to 17% of the total transaction amount.

  • Eligibility: Applicants must be first-time homebuyers, meet income requirements, and purchase a single-family, owner-occupied home in Cuyahoga County.

  • More Information: Cuyahoga County Assistance

City of Columbus – American Dream Down Payment Initiative (ADDI)

  • Assistance: Offers up to 6% of the purchase price (not exceeding $5,000) to assist with down payment and closing costs.

  • Eligibility: First-time homebuyers purchasing within Columbus city limits; must meet income requirements and complete a homebuyer education course.

  • More Information: Columbus Homebuyer Assistance

Program availability and terms can change, so it's essential to verify the most current information directly with the administering agencies.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.