What is the Ohio Heroes Program?
The Ohio Heroes program is a mortgage program offered by The Ohio Housing Finance Agency’s (OHFA) and rewards Ohio residents who serve the public with a discounted mortgage interest rate including FHA and Conventional loans.
Those in the following professions qualify for this program:
- Veterans
- Active-duty military members or reservists (surviving spouses included)
- Police
- Paid and volunteer firefighters
- Emergency medical technicians
- Paramedics
- Physicians
- Nurse practitioners
- Registered nurses
- Licensed practical nurses
- State tested nurse aides
- Pre-K through grade 12 teachers, administrators, and counselors.
You can choose to include down payment assistance in your Ohio Heroes loan. Down payment assistance is forgiven after seven years. If you sell or refinance your home within seven years, your down payment assistance may be forgiven if you sell then buy another home in the state of Ohio. Refinanced loans do require a prorated recapture of the down payment assistance. Grant money is available for income-eligible applicants, that does not have to be repaid.
Requirements
Qualified buyers are required to complete free homebuyer education. OHFA’s streamlined education program allows you to complete a course offered by any U.S. Department of Housing and Urban Development (HUD)-approved counseling agency in Ohio. Homebuyer education is not completed until after homebuyer has submitted their loan application with their loan officer.
First Ohio Home Finance works closely with OHFA to help those in qualifying professions achieve the dream of homeownership. To learn more about the program, visit the OHFA website or contact a loan officer at First Ohio Home Finance for help!
