What is OHFA? What is OHFA? The Ohio Housing Finance Agency (OHFA) is Ohio’s statewide affordable-housing authority. It funds 30-year, fixed-rate Conventional, FHA , VA , and USDA loans and provides assistance for eligible homebuyers through a network of participating lenders—not directly from the agency.
What’s new (2025): DPA amounts & limits What’s new (2025): DPA amounts & limits Effective July 1, 2025, OHFA’s down-payment assistance (DPA) provides 3% for Conventional loans and 3.5% for Government loans (FHA/VA/USDA). OHFA also uses target vs. non-target income limits across first-time buyer programs. Forgiveness: OHFA DPA is structured as a second loan that is forgiven after 7 years; if you sell or refinance earlier, repayment may be required per program terms. Where DPA can be used: down payment, closing costs, and eligible prepaid items. Mortgage Tax Credit (MTC): many buyers can also pair an annual tax credit up to $2,000 with their mortgage. Who qualifies for OHFA? Who qualifies for OHFA? Credit score (minimums): 640+ for Conventional/VA/USDA; 650+ for FHA. Income & purchase price limits: vary by county; must meet program caps. DTI: must meet underwriting limits for your loan type. Homebuyer education: required for OHFA homebuyer programs (easy online module available). First-time buyer rule: not owning a primary residence in the past 3 years (exceptions apply in target areas and for certain programs). Rates update daily: OHFA publishes program rates Monday–Friday at 9:30 AM; actual rate depends on your product and options (e.g., with/without DPA).
→ Read more: Get the Best Mortgage for First-Time Buyers – No Hidden Fees
How OHFA loans are delivered How OHFA loans are delivered You apply through an OHFA-participating lender (banks, credit unions, or mortgage companies). The lender originates your 30-year fixed loan and layers in DPA/MTC if you’re eligible.
→ Read more: How to Pay Less Interest on Mortgage: 7 Tips for Homebuyers
Why pair OHFA with Loan Factory Why pair OHFA with Loan Factory Homebuyers often compare only one bank and miss out on better combinations of rate + assistance. Loan Factory helps you capture the full value of OHFA:
Shop 240+ wholesale lenders to find strong pairings for Conventional , FHA, VA, and USDA—including options designed to work with OHFA assistance. AI-powered application for faster pre-approvals and fewer back-and-forths. Transparent pricing with no application or junk fees—see a clear Loan Estimate up front. Local Ohio advisors who handle the OHFA steps (education, documentation, income/price-limit checks) and coordinate with participating lenders. One dashboard to compare quotes side-by-side, track conditions, and lock quickly when you’re ready. Goal: maximize assistance + minimize lifetime cost, without the confusion.
(Note: OHFA loans are originated by participating lenders. Loan Factory, as your broker/advocate, compares options and pairs you with an eligible participating lender for OHFA.)
→ Read more: Top 10 Mortgage Brokers in USA 2025 – Scotsman Guide Ranking
Popular OHFA-compatible paths (examples) Popular OHFA-compatible paths 1) First-time buyer, limited savings Loan type: FHA 30-year fixed OHFA add-ons: 3.5% DPA + Homebuyer Education Result: lower cash-to-close; pair with MTC for annual tax savings. 2) Conventional buyer near county income cap Loan type: Conventional 30-year fixed OHFA add-ons: 3% DPA (meets updated 2025 structure) Result: reduced upfront funds while keeping Conventional PMI benefits. 3) Veteran using VA Loan type: VA 0% down OHFA add-ons: 3.5% DPA for closing costs + MTC Result: minimal cash at closing; ongoing federal tax credit. Step-by-step: Using OHFA with Loan Factory Check eligibility (credit, income, price limits, DTI). Get pre-approved through Loan Factory’s online app (we’ll price options across 240+ lenders). Select the pairing (Conventional/FHA/VA/USDA) that works with OHFA DPA/MTC for your county. Complete homebuyer education (quick online module). Review your Loan Estimate—we’ll show every fee and credit, and coordinate with an OHFA-participating lender to finalize your file. Lock & close with a 30-year fixed mortgage and the assistance you qualify for. OHFA with Loan Factory Ready to see what you qualify for? Compare 240+ lenders and view OHFA-compatible options side by side Get a clear Loan Estimate (no application/junk fees) We’ll guide you through OHFA education & paperwork and pair you with a participating lender Apply online: https://www.LoanFactory.com/apply
Compare refinance options: https://www.LoanFactory.com/quote
Set up a rate alert: www.loanfactory.com/mortgage-rate-alert
For faster support, you can call or text us at (660) 333-3333.
Compliance notes Programs subject to change and availability. Eligibility, pricing, and terms depend on credit, income, property, county limits, and underwriting. Loan Factory is a mortgage broker; loans are arranged through third-party providers. OHFA assistance is delivered via participating lenders. → Read more: How Can I Lower My Mortgage Payment? 5 Smart Ways
Sources: Core program details, eligibility & 2025 updates: OHFA / MyOhioHome. ( Ohio Home ) DPA usage & 7-year forgiveness: OHFA term/rate sheets & DPA docs. ( Ohio Home ) MTC up to $2,000/yr and program overview sheets: OHFA “Programs at a Glance.” ( Ohio Home ) Daily rate updates: OHFA Mortgage Rates page. ( Ohio Home )
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