What is OHFA?

According to OHFA’s website:

The Ohio Housing Finance Agency (OHFA) facilitates the development, rehabilitation and financing of low- to moderate-income housing. The Agency’s programs serve first-time homebuyers, renters, senior citizens, and other populations with special needs. Formerly a division of the Ohio Department of Development, OHFA became an independent state agency on July 1, 2005



OHFA offers loans to Ohio consumers.  When I think of OHFA loans and how my clients use OHFA, I think of three options:

  • OHFA helps low- to moderate-income buyers purchase a home through financing help, often times with down payment assistance in the form of a grant.
  • Ohio Heroes Program which helps active military, reservist, veteran, firefighter, EMT, health care worker, police office and teacher a 0.25% rate reduction on a 30-year, fixed mortgage.
  • Mortgage Credit Certificate program which helps a home buyer reduce their federal income tax liability, allowing them to afford more home.

OHFA provides financing to its home buyers by issuing tax-exempt mortgage revenue bonds and using the money to fund loans.  They also do low-income rentals and work with developers, but my experience is on the buying side.  One important part of using OHFA is that not all lenders in Ohio are able to help a borrower, so if you have interest in doing an OHFA loan, please contact me to get you in touch with an OHFA-approved lender.  OHFA can be a great program to help someone with decent credit, and a solid work history get into a home with little money down, or get a great rate.

The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and
equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit http://www.ohiohome.org for more information.Shanna Lafontaine is a Realtor with RE/MAX Affiliates who works Metro Columbus, Dublin, Hilliard, Powell, Worthington, Westerville, Delaware and surrounding Central Ohio areas helping both Buyers and Sellers.

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Shanna Lafontaine, LLC© 
RE/MAX Affiliates Inc. 7239 Sawmill Rd. Ste 210, Dublin, OH 43016

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