Your Choice! Down Payment Assistance Program

The Ohio Housing and Finance Agency (OHFA) offers Your Choice! to provide qualified individuals with down payment and closing cost assistance. 2.5% or 5% of the loan amount is then offered to help the individual with the costs of the down payment, closing, and other approved expenses. This is a forgivable loan that does not need to be paid back unless the applicant sells or refinances their property within 7 years.

Applicants must fall within specified income and purchase price limits. Applicants must also have a minimum score of 640 (or 660 for certain loans). Applicants must have a completed Purchase Agreement, and must finish a homebuyer education course.

Properties must meet certain requirements. The property cannot be more than 2 acres if inside a municipal corporation, or 5 acres if outside of a municipal corporation. However, additional acreage will be accepted if it is required by safety or health codes. Existing single-family dwellings, conforming condominiums, duplexes, and up to four-unit properties, new one-unit single-family dwellings, and one-unit modular homes are all allowed.

Other programs in Ohio:

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