For first-time homebuyers in Ohio, affordability just got a major upgrade — and it’s all thanks to the Ohio Housing Finance Agency (OHFA).

As of this month, OHFA has lowered interest rates on its homebuyer assistance programs. While that may sound like a small tweak, the impact is big. In many cases, it could mean up to $25,000 more in buying power for qualified homebuyers.

How Does This Work?

Let’s say you were pre-approved for a $200,000 loan last month. With the reduced OHFA rates, that same buyer could now qualify for up to $225,000 — without increasing their monthly payment. That’s more home for the same budget.

This is especially good news for first-time buyers who are already watching every dollar. With home prices continuing to rise across Ohio, this rate drop offers a timely opportunity to buy in a competitive market — with less financial strain.

Why It Matters

• Lower monthly payments: Reduced interest rates lower your cost over time.

• More buying power: You may qualify for a larger home or better neighborhood.

• Easier qualification: A lower rate can improve your debt-to-income ratio.

Who Qualifies?

OHFA programs are designed for first-time homebuyers, often with income or purchase price limits depending on location. These programs also often include down payment assistance and homebuyer education.

If you’ve been pre-approved recently, now is the time to re-check your numbers with your mortgage advisor or lender. That $200,000 approval might stretch a whole lot further today.

Ready to Explore Your New Buying Power?

We’re here to help. Reach out today to learn how OHFA’s updated programs could work for you — and see if that dream home just moved within reach.