Homeownership in Ohio

Simms Development has Great News for Prospective Homebuyers with the OHFA Down Payment Assistance Program!

Becoming a homeowner is exciting – but saving for a down payment or covering closing costs can feel overwhelming. Thankfully, the Ohio Housing Finance Agency (OHFA) offers powerful programs that make homeownership more affordable for everyday Ohioans – including first-time homebuyers, public service workers, and recent college grads. At the heart of OHFA’s offerings is down payment assistance but this can also be applied toward closing costs or other pre-closing expenses. This program helps homebuyers cover the upfront costs of buying a home.

Let’s break down these programs and their differences:

First Time Homebuyer Program

If you’ve never owned a home, or haven’t in the last 3 years, you may qualify for OHFA’s First-Time Homebuyer benefits.

• Mortgage Interest Rates
  • With No OHFA Assistance – 5.000%
  • With OHFA Assistance – 6.375%
• Assistance Forgiven After 7 Years
• Credit Score Required – 650 or Higher

Ohio Heroes Program

If you serve your community, OHFA wants to help you own a home too.

• Mortgage Interest Rates
  • With No OHFA Assistance – 4.750%
  • With OHFA Assistance – 6.125%
• Assistance Forgiven After 7 Years
• Credit Score Required – 650 or Higher

Eligible Professions Include

• Veterans and active-duty military
• Police Officers, Firefighters, and EMTs
• Doctors and Nurses
• Teachers and School Staff
• Corrections Officers and Probation Officers