Down Payment Assistance OHFA and more OF

 


Downpayment Assistance

Resources for Ohio homebuyers are available through the Ohio Housing Finance Agency (OHFA). Click here OHFA's Grants for Grads Program. Grants for Grads includes 5% down payment assistance for homebuyers who have received an associate, bachelor's, master's, or doctoral degree within the last 48 months. The assistance can be used toward a down payment, closing costs, and other prepaid expenses incurred prior to closing. 

An example of the Grants for Grads Program

Purchase Price $200,000 

FHA Loan 3.5% down payment requirement 

5% Grant for Grads= $10,000 towards a down payment, closing costs and prepaid expenses. 

Find Homebuyer eligibility information including qualified lenders, credit score requirements, income limits and more information https://myohiohome.org/downpaymentassistance.aspx 

For any questions about the Grants for Grads Program, please drop us a line!

Comments

Post a Comment

Thanks for commenting, please call me if I can answer questions or help in anyway.

Popular posts from this blog

Is It Best to Work Solo or on A Team?

Image
Agent Value Proposition Defined Are you a licensed real estate agent wondering if you should join a real estate team?  Whether you should work alone or join a real estate team depends largely on your personality, experience level, and desired level of independence;  if you prefer structure, support, and a readily available network, joining a team might be better, while if you thrive on autonomy and want full control over your business, working solo could be the right choice .   Reasons to join a real estate team  Structure and support Teams often provide training, lead generation, marketing assistance, and a clear system to follow, which can be especially beneficial for new agents.   Shared knowledge and expertise Access to the experience and insights no of other team members can help you grow your skills and knowledge.   Accountability and motivation Being part of a team can foster a sense of accountability and encourage you to stay motivated.   Poten...
Read more

Home Mortgage Equity: To Rent or Not To Rent?

Image
Home equity is  a key component of homeownership and can be a powerful asset that helps you build wealth over time.  It’s  the difference between the value of your home and the amount you still owe on your mortgage.   Here are some reasons why buying a home can be a good financial decision: Equity : Home equity can help you build wealth as your home's value increases and you pay down your mortgage.   Stability : Homeownership can increase your financial stability.   Tax benefits : Homeownership may reduce your taxes.   Social ties : Homeownership can increase your social ties.   Rental costs : Rental costs may increase more than a mortgage.   You can use your home equity for various expenses, such as: Home equity loans : You can use a home equity loan to access your equity.   Home equity lines of credit (HELOCs) : You can use a HELOC to access your equity.   Reverse mortgage : If you're 62 or ...
Read more

Central Ohio Housing Report July 2024

Image
  COLUMBUS, Ohio (Aug 22, 2024)—  Columbus Realtors reports closed sales are up 12 percent, and inventory has surged to its highest point in five years in the latest housing statistics for July issued by Columbus REALTORS®.   There were 2,806 closed sales in July, a 12 percent uptick over July 2023. The most significant rise came in total inventory, which increased from 3,137 homes for sale in July 2023 to 4,325 homes for sale in July 2024. That’s a 37.9% increase year over year. It also marks the largest number of homes for sale in a single month since November 2019.   The median sale price in central Ohio is $327,250, a 3.9% increase year over year. Last month, it reached an all-time high in the region at $334,900.   “The fact that there are over 1,200 more homes available on the market right now than this time last year is a positive for prospective home buyers,” said Columbus REALTORS® President Scott Hrabcak.   “Columbus remains an in-demand seller’s m...
Read more