Affordable Housing 

American Dream Down payment Initiative program (ADDI)​

DPA for First Time Homebuyers up to 6% of purchase price or $5k maximum.

80% or below of the Area Median Household Income

City of Columbus or Columbus School District

Repayable, forgiven after 5 years

45%

Homeport

DPA for First Time Homebuyers up to $15k with $6k going towards down payment.

80% or below current Household HUD income guidelines for Columbus Metropolitan Service Area Median Income

Franklin County homes that do not start with parcel number 010 (outside of the City of Columbus)

Repayable, forgiven after 6 years

47%

Communities First

Up to 5% of total loan amount offered to Ohio home buyers.

Can't exceed County Maximum Household Income Limits

State of Ohio

Grant

45% (Without a 680 FICO)

OHFA, YourChoice! Down Payment Assistance

2.5% or 5% of the purchase price offered to Ohio home buyers.

Can't exceed County Maximum Household Income Limits

State of Ohio

Repayable, forgiven after 7 years

No limits

Welcome Home Funds

$5,000 DPA available to certain American homebuyers. $7,500 available in special circumstances.

Total household income ≤ 80% of Mortgage Revenue Bond (MRB) income limits

Homes in the United States

Repayable, forgiven after 5 years

No limits

Freddie Mac, Home One​

3% down first time homebuyer program through Freddie Mac.

N/A

97% LTV

35% required for LTV > 95%

45% DTI & 620 Credit Score

Freddie Mac, Home Possible

3% down homebuyer program through Freddie Mac.

80% or below of the Area Median Borrower Income

97% LTV

Above 80% LTV, required

45% DTI & 620 Credit Score

Freddie Mac, Refi Possible; must currerntly have Freddie Mac mortgage

Refinance opportunity for borrowers who have had a mortgage through Freddie Mac for atleast 12 months.

At or below 100% of Area Median Income (AMI)

97% maximum except for: 95% maximum w/ non-occupying borrower or manufactured homes

Above 80% LTV, required

65% DTI & no credit score requirement

Heartland Hometown Program

Portfolio program where PMI is not required, origination fee is waived and their LTV can go as high as 100%.

Low or moderate income tract or where total household income is below 80% of county limits

100% LTV

Waived

43% DTI & 640 Credit Score

OHFA, Ohio Heroes​

For first time homebuyer, Ohio residents who serve the public with a discounted mortgage interest rate. Listing of careers in link.

Can't exceed County Maximum Income Limits

Conventional: 97%:FHA 96.5%, VA/USDA 100%

No

Conventional, USDA and VA: 640. FHA: 650

OHFA, Grants for Grads

Discounted rates for home seekers who graduated within the last 48 months (post high school).

Can't exceed County Maximum Income Limits

Conventional: 97%:FHA 96.5%, VA/USDA 100%

Yes. 2.5% or 5% assistance forgiven after 5 years

Conventional, USDA and VA: 640. FHA: 650

OHFA, Next Home

30-year, fixed rate mortgages for non-first time homebuyers.

Can't exceed County Maximum Income Limits

Conventional: 97%:FHA 96.5%, VA/USDA 100%

No

Conventional, USDA and VA: 640. FHA: 650

OHFA, Tax Credit​

Direct federal tax credit for first time homebuyers on a portion of mortgage interest paid.

Can't exceed County Maximum Household Income Limits

40% of mortgage interest paid w/ an OHFA program and 30% if not. Maximum $2,000 savings per year.

45% (Without a 680 FICO)

Conventional, USDA and VA: 640 FHA: 650 Applicable when coupled with OHFA program.