Homebuyers can choose either 2.5% or 5% of the home's purchase price. You can apply the assistance to down payment, closing cost or other pre-closing expenses. Assistance is forgiven after seven years. If you sell or refinance your home within seven years, you must repay all of the assistance provided.

Income and purchase price limits determined here:

https://myohiohome.org/documents/IncomePurchasePriceLimits.pdf

Find out if you're in a target area:

https://myohiohome.org/Geodata/Default

Conventional, USDA and VA loans: 640 credit score or higher required

FHA loans: 650 credit score or higher required.

You'll need to meet the debt to income ratios required for your loan.

Qualifying property must be limited to two acres within a municpal corporation and five acres outside a municipal corporation, unless additional acreage is required by local health or safety code.

Qualfiying Properties:

• Existing homes: single-family dwellings, conforming condominiums, duplexes, and up to four-unit properties.
• Newly built spec/nearly completed homes: one-unit single-family dwellings.
• Modular homes; one-unit single family dwellings.
• Manufactured homes.

Additional requirements may apply to specific homeownership products.

All homebuyers are required to either complete a homebuyer education course offered by a HUD-approved counseling agency or participate in OHFA's online homebuyer education course. Homebuyer education helps prepare you for the financial responsibilities of homeownership.

Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer.

May be eligible for more than one OHFA (Ohio Housing Finance Agency) program.

https://myohiohome.org/combiningprograms.aspx