OHFA Grant for Grads program

The Ohio Housing Finance AGency has a new Grants for Grads program!

it’s a 2.5% of the sale price grant that is forgiven 20% over 5 years that the buyers live in the property that can be used for closing costs and/or downpayment.

Buyers must participate in a homebuyers education class- OHFA has an online class.

Buyers household must meet income guidelines as follows:

Lorain, Cuyahoga & Medina counties

Household of 1-2 max income is $77760

Household of 3+ max income is $90720

Erie county

Household 1-2 max income $75960

Household 3+ max income $88620

Buyer msut be an Ohio Resident based on High school graduation, who has received an associate, baccalaureate, masters, doctoral or other postgraduate degree within 18 months of loan application.

Single family, owner occupied properties only

To be used in conjunction with OHFA FHA loan.

Buyer must be first time buyer or have had no ownership in a principal residence in the previous 3 years.

Current rate is 5% 30 year fixed rate with 1 point of origination

Call for more details or an application- 440.452.3894.

Apply 24/7 at www.firstplacebank.com/lizschneider

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About lizschneider66

Mortgage consultant with over 18 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news.
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