OHFA Grants for Grads
Funding status: Active
How much assistance
3% for Conventional loans or 3.5% for Government loans (FHA, VA, USDA) of the purchase price, plus a discounted mortgage interest rate (Forgivable Loan)
Forgiven after 5 years as long as you remain in the state of Ohio.
Eligibility
- Income limits: Varies by county. Must meet OHFA income limits for your county.
- First-time buyer required: Yes — Must not have owned a home in the past 3 years.
- Credit score minimum: 640
- Geographic restrictions: Must purchase a home in Ohio. Must have graduated within the past 48 months from an accredited institution.
- Homebuyer education required: Yes
How to Apply for OHFA Grants for Grads
Step 1: Contact an OHFA-approved lender to apply. Must have obtained an associate, bachelor's, master's, doctorate, or other post-graduate degree from an accredited school within the past 48 months.
Notes
Provides both a discounted mortgage rate and down payment assistance. Forgiveness period is 5 years instead of the standard 7 years.