First time home buyers may qualify for a 3% down payment with the Ohio Housing Finance Agency's new program.
OHFA will issue a loan, as a 2nd mortgage for up to 3% of the purchase price of the home. This can be used for part of a down payment, closing costs or prepaid items
Your 2nd mortgage rate will be 1% higher than the current oHFA rate and payments will begin 8/1/200.
If you receive the $8,000 Federal tax credit, you may use those funds to pay off the OHFA 2nd mortgage.