Ohio Housing Finance Agency (OHFA) Programs
Axen Mortgage and Harry Krause are OHFA-approved lending partners who guide Ohio buyers through program choices, qualification, and the application process.
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Experienced OHFA lending professional — License # 404518
Harry Krause and the Axen Mortgage team guide Ohio buyers through OHFA program selection, qualification, and closing with clear, local expertise. If the OHFA program turns out not to be the best program for you, Harry Krause and Axen Mortgage have many more options for 100% financing with other programs.
What Is the Ohio Housing Finance Agency?
OHFA is a state agency that helps Ohio residents access affordable mortgage and down payment assistance programs through approved lenders. Axen Mortgage helps buyers understand program rules, determine eligibility, and use those benefits when purchasing a home in Ohio. In many cases, loans provided for down payment assistance can be forgiven over time.
OHFA Mortgage Loan Programs
Fixed-rate 30-year options for qualified Ohio buyers with conventional, FHA, VA, and USDA program availability where applicable.
DOWN PAYMENT ASSISTANCE
If you're in the market to purchase a home and need help with a down payment and closing costs, the Ohio Housing Finance Agency (OHFA) can help. OHFA offers 30-year, fixed-rate conventional, FHA, VA and USDA-RD government loans with generous income and purchase price limits, designed especially for homebuyers with low- and moderate-incomes.
OHFA Down Payment Assistance allows homebuyers to choose 3% for conventional loans or 3.5% for government loans (FHA, VA, USDA) of the home's purchase price. Assistance can be applied towards down payments, closing costs, or other pre-closing expenses. This assistance is forgiven after seven years. If you sell your home within seven years, you must repay all of the assistance provided.
Am I Eligible?
You may qualify for an OHFA homebuyer program if you meet the criteria listed below:
You meet income and purchase price limits.
You meet credit score requirements.Conventional, USDA and VA Loans: 640 or higherFHA Loans: 650 or higher
You meet debt to income ratios for your loan type.
Homebuyer Education
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer. Homebuyer Education is not required for borrowers who are only registered for our MTC Basic program.
OHIO HEROES
FHA program options available via OHFA for eligible buyers who need flexible underwriting and lower down payment thresholds where applicable. The Ohio Housing Finance Agency's (OHFA) Ohio Heroes rewards Ohio residents who serve the public with a discounted mortgage interest rate.
Am I Eligible?
You may qualify for an OHFA homebuyer program if you meet the criteria listed below:
You meet income and purchase price limits.
You meet debt to income ratios for your loan type.
You meet the credit score requirements.Conventional, USDA and VA Loans: 640 or higherFHA Loans: 650 or higher
You work in one of the following careers:Veterans, active duty military members or members of reserve components (including surviving spouses)Police officers, firefighters, volunteer firefighters, EMTs and paramedicsPhysicians, nurse practitioners, nurses (RN and LPN) and STNAsTeachers (pre-K through grade 12), administrators and counselors
You can choose to include down payment assistance in your Ohio Heroes loan.
* Please view a complete list of eligibility criteria.
Homebuyer Education
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer. Homebuyer Education is not required for borrowers who are only registered for our MTC Basic program.
GRANTS FOR GRADS
Congratulations, graduate! The Ohio Housing Finance Agency's (OHFA) Grants for Grads provides a discounted mortgage interest rate to recent graduates as an additional incentive for you to make Ohio your home.
Grants for Grads includes 3% (conventional loans) or 3.5% (government loans) down payment assistance. Down payment assistance is forgiven after five years as long as you remain in the state of Ohio. If you sell your home and move out of Ohio within five years, you must repay some or all of the assistance provided.
Am I Eligible?
You may qualify for an OHFA homebuyer program if you meet the criteria listed below:
You have not owned or had an ownership interest in your primary residence in the last three years.
You meet income and purchase price limits.
You meet credit score requirements.Conventional, USDA and VA Loans: 640 or higherFHA Loans: 650 or higher
You meet debt to income ratios for your loan type.
Borrowers must have graduated within the last 18 months with an associate's, bachelor's, master's, doctorate or other post-graduate degree from an accredited college or university.
Homebuyer Education
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer. Homebuyer Education is not required for borrowers who are only registered for our MTC Basic program.
NEXT HOME
OHFA's Next Home program provides 30-year, fixed-rate mortgages to those who are not first-time homebuyers. Available loans include conventional, FHA, VA and USDA-RD government loans.
Homebuyers are able to couple Next Home with OHFA Down Payment Assistance. Homebuyers are not required to use these down payment assistance products if they have their own down payment funds.
Am I Eligible?
You may qualify for an OHFA homebuyer program if you meet the criteria listed below:
You must meet income and purchase price limits.
You meet debt to income ratios for your loan type.
You must meet credit score requirements. Credit score requirements may be higher for different loan types. Please check with your lender for specific requirements.Conventional, USDA and VA Loans: 640 or higherFHA Loans: 650 or higher
The home will serve as your primary residence.
You will occupy the property within 60 days of closing.
Note: If you continue to own your current home, it may affect your income eligibility.
Homebuyer Education
Qualified buyers are required to complete free homebuyer education. OHFA's streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Please note, OHFA homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer. Homebuyer Education is not required for borrowers who are only registered for our MTC Basic program.
OHFA'S REFINANCE PROGRAM
OHFA's Refinance Program
Current OHFA home borrowers can refinance their mortgage loan to improve their mortgage interest rate and reduce their monthly payment, helping them save money over the life of their loan. This program is only available to borrowers who have an OHFA loan that includes a down payment assistance second mortgage with a term of 7 years that OHFA will not otherwise re-subordinate.
Minimum credit score of 640.
Conventional and Government loan options available.
Grants for Grads loans are not eligible.
For loans reserved on or after 9/1/2015.
MORTGAGE TAX CREDIT
The Ohio Housing Finance Agency's Mortgage Tax Credit provides homebuyers with a direct federal tax credit on a portion of mortgage interest paid, which could provide up to a $2,000 tax savings per year.
Homebuyers must have a tax liability in order to use this non-refundable credit. The mortgage tax credit is in addition to the IRS home mortgage interest deduction.
Innovation
We tailor OHFA strategies to each household so borrowers access the best available programs.
Integrity
Transparent guidance and compliant language to keep you informed through every step.
Excellence
Local Ohio expertise and dependable service designed to simplify closing.
Resources & Guides
OHFA Programs: A Beginner’s Guide
Clear explanation of OHFA product types, who qualifies, and next steps to explore eligibility with Axen Mortgage.
How Down Payment Assistance Works in Ohio
High-level overview of OHFA down payment assistance options and how Axen Mortgage helps package applications.
Preparing to Apply: Documents Checklist
Practical pre-application checklist to speed OHFA qualification and reduce delays at underwriting.
Copyright ©2025 Axen Mortgage | NMLS# 404518. Licensed in applicable states. This is not an offer to enter into an agreement and not a commitment to make a loan. Programs, rates, and eligibility are subject to change and borrower qualification.
OHFA programs are administered by the Ohio Housing Finance Agency and are subject to change. Axen Mortgage is an approved participating lender and is not a government agency. Eligibility varies by program and household; terms, conditions, and underwriting rules apply.
Copyright ©2021 | The Harry Krause Team
Licensed to Do Business in GA
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | AXEN Mortgage
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Copyright ©2021 The Harry Krause Team | NMLS# 404518
Licensed to do business in
This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.
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