Affordable Housing Options
Are you ready to make your move?
With government backed loan options, a wide range of possibilities are available to not only fit your lifestyle, but your financial goals as well. We'll help you open the door to your dream home!
Review the options below and contact our Affordable Housing Team to get started!
Heartland Hometown
- No down payment required if you qualify for the program
- 360-month, fixed rate loan with low monthly payments
- No private mortgage insurance (PMI) required
- Gift or grant is allowed if needed
- Program household income limit of 80% of area median income for qualification
For more information, please visit our webpage here.
Homeport Down Payment Assistance Grant
- The grant is available for purchases in Franklin County, outside the political jurisdiction of Columbus
- Funds are available up to $15,000 for a 5% down payment and closing costs
- In-person, 8-hour homebuyer class required for this grant that should be started prior to your home search
For more information, please visit Homeport’s down payment assistance program guide for all requirements.
Ohio Housing Finance Agency
- Down payment assistance of 2.5% or 5% of the purchase price
- Assistance can be applied toward down payments, closing costs or other pre-closing expenses.
- Mortgage tax credit program cannot be used with OHFA down payment assistance
For more information, please visit MyOhioHome.Org.
Communities First (Ohio)
This program provides first mortgage financing and down payment/closing cost assistance grants to eligible homebuyers.
- This is a grant, not a loan, so there is no second mortgage on your home
- No restrictions on reselling your home or refinancing your mortgage
- Receive instant equity in the new home
- Income limits are based only on the borrower, not the household
- 3, 4, or 5% down payment assistance options provide more flexibility
For more information, please visit Community First’s website.
Home Possible VLIP Program (Through 2/28/25)
- Down payment requirement of as little as 3%, offering a $2,500 closing cost credit
- Borrowers must qualify under Freddie Mac’s low-income guidelines
- For loan-to-value (LTV) ratios over 90%, the mortgage insurance coverage requirements are reduced
For more information, please visit Freddie Mac’s website.
FHA Loans
Structured to accommodate low to moderate-income-based borrowers, FHA loans are backed by the Federal Housing Administration.
- Low down payment of 3.5%
- No income limits on borrowers
- Must be primary residence
- Appropriate for borrowers who need more flexible guidelines
USDA Rural Housing Loans
Loans guaranteed by the U.S. Department of Agriculture for lower-income, rural-area buyers who qualify based on eligibility guidelines.
- 100% financing with no down payment requirements
- 30-year loan terms with fixed interest rates
- Primary residence only
- Home must be located in an eligible area for USDA financing
- Annual income limits apply
VA Loans
Backed by the U.S. Department of Veteran’s Affairs, VA loans are designed for military service members, veterans and their spouses.
- 100% financing with no down payment required for military veterans
- Lower interest rates and lower monthly payments
- VA funding fee may be included in loan amount
- No annual income limits
Rise UP Program
- $25,000 grant for first-generation, first-time homebuyers - ONLY in Franklin County, OH
- Household income no higher than 120% of the area median income
- For more information, please visit the FHLB Cincinnati website.