Low money down and no money down mortgages

VA and USDA loans are available with no money down in Ohio.   Both programs have unique restrictions, and most will not qualify for obvious reasons.

VA Loans are, hands down, the best finance option in the country today.  If you are eligible for VA benefits, first I would like to thank you for serving our country, and I would be honored to help you with the purchase of a home.  If you are eligible for a VA loan, please visit my VA loans page, and contact me if I can be of any service to you.

The USDA loan program also requires no down payment.  USDA loans in Ohio are restricted by location, income and loan size.   For this reason, many people will need to look towards other low money down options to purchase a home.  For more information about the USDA loan program, please visit my USDA loan page, and contact me here.

The next closest option for zero down is the Ohio Housing Finance Agency (OHFA) first time homebuyer program. A 3.5% down payment is required, however 2.5% of the down payment can come from a 2.5% grant.  The 2.5% grant is only repaid under circumstances that you sell the home within 5 years. Only 1% down is required to purchase your first home with the OHFA program.

FHA is one of the most popular loan programs in the US today.  FHA requires 3.5% down, all of which is allowed to come from a family gift, if necessary.  Many people are unaware that FHA is NOT exclusively a first time homebuyer program.  Any qualifying borrower can purchase a primary residence, regardless of home many homes you have purchased in the past, and regardless of income.

If you are interested in any of these programs or have questions about them please call me at 440-666-6069, or contact me here.