Grants for Grads
Congratulations, graduate! The Ohio Housing Finance Agency’s (OHFA) Grants for Grads provides a discounted mortgage interest rate to recent graduates as an additional incentive for you to make Ohio your home.
Grants for Grads includes 2.5% or 5% down payment assistance. Down payment assistance is forgiven after five years as long as you remain in the state of Ohio. If you sell your home and move out of Ohio within five years, you must repay some or all of the assistance provided.
Am I Eligible?
You may qualify for an OHFA homebuyer program if you meet the criteria listed below:
- You have not owned or had an ownership interest in your primary residence in the last three years.
- You meet income and purchase price limits.
- You meet credit score requirements.
- Conventional, USDA, VA and FHA 203(k) Loans: 640 or higher
- FHA 203(b) Loans: 660 or higher
- You meet debt to income ratios for your loan type.