Buying your first home? Our free Ohio First-Time Home Buyer Guide explains how much you really need for a down payment, the Ohio Housing Finance Agency programs that can help (down payment assistance, Grants for Grads and Ohio Heroes), how to get your credit ready, and a step-by-step game plan, plus the Central Ohio areas first-time buyers like.
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Low down payment options, Ohio Housing Finance Agency programs, credit tips, a glossary and the Central Ohio areas first-time buyers like. Enter your name and email and the PDF is ready right away.
What’s inside
- Renting vs. buying and signs you are ready
- Budget rules of thumb and first-year homeowner costs
- Down payment options: conventional, FHA, VA and USDA
- Ohio Housing Finance Agency programs
- Getting your credit ready and the documents lenders need
- A first-time buyer glossary
- Your first-home game plan and areas to start
More free guides
Frequently asked questions
How much do I need for a down payment in Ohio?
Conventional loans start at 3% down for qualified first-time buyers, FHA at 3.5%, and VA and USDA loans can require nothing down for eligible buyers and areas.
What Ohio programs help first-time buyers?
The Ohio Housing Finance Agency offers down payment assistance equal to 3% or 3.5% that is forgiven after seven years, Grants for Grads for recent graduates, and Ohio Heroes for public-service workers. Income, price and credit limits apply; confirm current terms at ohiohome.org.
What credit score do I need?
FHA loans can go as low as 580 with 3.5% down, many conventional loans need 620 or higher, and OHFA programs generally need about 640 to 650.
Can family help with my down payment?
Yes. Most loan programs allow gift funds from family with a signed gift letter.
Which Central Ohio areas are most affordable for first-time buyers?
Franklinton, Marion, Mansfield, Newark, Mount Vernon, Lancaster and Westgate all had median sale prices under about $285,000 over the past year, and the City of Columbus median was about $280,000 (Columbus REALTORS MLS). Our free Community Guide lists all 48 areas by price.