Ohio Housing Finance Agency (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

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?

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).

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.

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.)

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

Start in minutes: www.loanfactory.com • Prefer a human? Connect with a local Ohio advisor.

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.

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)