Our communities depend on the brave men and women who answer the call when others are in need. First responders come in many forms, but they’re always there when trouble strikes. We can never offer enough thanks to the selfless individuals who work day in and day out responding to emergencies. That’s why a special program exists offering reduced mortgage rates to our valued first responders.

If you’re a first responder, member of the US armed services, a teacher, or work in public service in another form, you could qualify for a special rate on your home loan. The Ohio Housing Finance Agency’s (OHFA) Ohio Heroes program rewards Ohio residents who serve the public with a discounted mortgage interest rate.

To qualify for a discounted rate through this program, potential borrowers must meet the following criteria:

  • Must meet income and purchase price limits.
  • Must meet debt to income ratios for your loan type.
  • Must meet credit score requirements.
    • Conventional, USDA, VA and FHA 203(k) Loans: 640 credit score or higher
    • FHA Loans (Non-203(k)): 660 credit score or higher
  • Must work in one of the following careers:
    • Veterans, active-duty military members or members of reserve components (including surviving spouses)
    • Police officers, firefighters, volunteer firefighters, EMTs and paramedics
    • Physicians, nurse practitioners, nurses (RN and LPN) and STNAs
    • Teachers (pre-K through grade 12), administrators and counselors

Homebuyers who choose an Ohio Heroes loan can also qualify for down payment assistance through the program. This assistance is forgiven after seven years of homeownership. Should the purchaser sell or refinance the home within seven years, the full amount of the assistance must be repaid.

Of lenders in the state who take part in this program, First Ohio ranks number two for mortgages issued! If you believe you could qualify or would like to know more, please contact the mortgage experts at First Ohio Home Finance.