Home Buying in Cleveland>Question Details

M. Davila, Home Buyer in Cleveland, OH

Is it true that the downpayment assistance is back for Ohio? If so, what can you tell me about it?

Asked by M. Davila, Cleveland, OH Mon Feb 2, 2009

I have recently heard that the assistance program is back, and can help with as much as 2.5%, for a down payment, or closing costs. Is this true?

Help the community by answering this question:


Yes the OFHA Bond Program is back! This is a big help for buyers right now. Check with your lender to see if they offer it. If not I can refer you to several good lenders that offer this program. You will still need $1000.00 out of pocket but still a good deal. Good luck!
Web Reference: http://robysellshomes.com
0 votes Thank Flag Link Tue Feb 3, 2009
Yes, the First Time Buyer Assistance program is coming back. You will be able to get 2.5% downpayment assistance thru the OFHA program. You will also be able to negotiate with the Seller to provide some assistance for your closing costs. This will mean that you may only need 1% of your own money to close the transaction. Not all Lenders can offer the OFHA program, so be sure to ask this question.

You need to know that using the downpayment assistance program will disqualify your for the Federal assistance program of $7500. This program is available thru July 9th, 2009.

If you need assistance, please feel free to email me.

David Wakeman
RE/MAX Classic
0 votes Thank Flag Link Tue Feb 3, 2009
M,seeems true.1st time home buyers,using FHA bond money,OHFA,only need 1.000 down payment using their own money,all closing cost paid by the seller.In a nut shell pretty good deal.Have your lender explain in detail.Hope it works for you.


Web Reference: http://tjroberts.remax.com
0 votes Thank Flag Link Tue Feb 3, 2009

Here is a link with info on the program. Thank goodness it is! Alot of buyer have relied on this program in the past and it is needed now more than ever.

Best of luck to you.
0 votes Thank Flag Link Mon Feb 2, 2009
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