Program Highlights:

• Offers 3% or 5% forgivable second mortgage, payable only if you sell or refinance within 7 years

• Available with FHA, VA, USDA, Fannie Mae HFA Preferred, or Freddie Mac HFA Advantage loans

• Credit and DTI Requirements:

  • Conventional/VA/USDA: Minimum 640 FICO with up to 50% DTI

  • FHA: 650+ FICO up to 50% DTI; 650–679 FICO up to 45% DTI

• Non-occupying co-signers allowed (except for manufactured homes and 3–4 unit loans)

• Not compatible with temporary buydowns on HFA Advantage loans

Program Highlights:

• Designed for non-first-time buyers

• Includes 2.5% down payment assistance (5% DPA not available)

• Not eligible for Mortgage Tax Credit or Grants for Grads

• May come with slightly higher interest rates than first-time buyer programs

Who’s Eligible:

• Veterans, active-duty military members, and reservists (including surviving spouses)

• Police officers, firefighters (paid and volunteer), EMTs, and paramedics

• Healthcare professionals (physicians, nurses, nurse practitioners, STNAs)

• Pre-K through 12 teachers, administrators, and counselors

• Both first-time and repeat home buyers with shared program alignment

Key Requirements:

• Minimum credit score: 640 (Conventional, USDA, VA) or 650 (FHA)

• Must meet OHFA income and purchase price limits

• Maximum debt-to-income (DTI) per loan type

• HUD-approved homebuyer education required

• Non-occupying co-signers allowed on most loan types (exceptions apply)

Key Features:

• Borrowers can receive 2.5% or 5% of the home’s purchase price (rounded down)

• Offered as a 0% interest second mortgage

• Fully forgiven after 7 years, as long as you don’t sell or refinance during that period

• Must be used for down payment or closing costs

• Can be paired with other OHFA first mortgage programs, including First-Time Homebuyer, Next Home, or Ohio Heroes

• 30-year fixed-rate conventional mortgage
  
  
• Second lien offers up to 4% for down payment assistance
  
  
• Max LTV/CLTV: 97% / 105%
  
  
• Income limit: Up to 140% of area median income (AMI)
  
  
• Minimum credit score: 660
  
  
• DTI: Lesser of 50% or AUS approval
  
  
• First lien acquired by Lakeview; second lien from an approved DPA provider
  
  
• Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)