down payment assistance programs

[jcstarkey8826]

So I have finally settled, got promoted to OH, moved, married.... DONE. Now I'm looking forward to getting a house. A co-working asked if we were looking at houses and I informed him that the wedding had our savings starting over as we didn't have parental assistance, and the move was a drain too. We only have 2k in savings now, so I said we were waiting to save more money.

He then told me about downpayment assistance programs that OH had, and all kinds of methods that he said were out there a few years back when he got his house he said they had less saved than we did.

It got me thinking, and a little excited thinking I could get assistance with my downpayment and get into a house ASAP. Like many others, my rent is more than the house payment I'd have.

Can anyone give any scenarios of using these programs? I'd love to hear if anyone is from OH, but just to get a general feel for them I'd like to read anything. I hate renting and would not want to sign another lease when this one is up if there was ANY way to get a home.

[liandur]

I know this is an old post for you---was just wondering what info for Ohio you found??? I live in the Dayton area and am not looking inner city! There seem to be plenty for that but........

[Lasardo]

I would love some info too!

[sizdub]

I am in Columbus.   I just closed on a home loan about 2 weeks ago with a down assistance program.  You should search for OHFA.   There are others in Ohio.  Each process is different.  There are some that you would need to attend courses.  The one I went to, OHFA, works with certain lenders.  All of that info is on their website.  They have their own lock in rate.  At the time, mines was 4.0 rate.  They cover 2.5% for a FHA Loan.  You would have to cover the 1% and closing cost.  You would need a 640 score and they do have a certain household income criteria and also the purchase price of the home.  It's all on their website.   There are some lenders that are more knowledgeable about the down assistance programs than others.  The Mortgage Company I worked with actually brought it up and took care of submitting my application through OHFA.  All I had to do was take a quiz and wait 7-10 days for an OHFA rept to call me.  We went over the house buying process and the quiz.  Afterwards they would send you and your Mortgage Company a certificate.  The process went really smooth but thats because of my lender.  Hope that helps.  

[cazz]

Hi i live in Columbus also and im going through OHFA the process is very simple and as mentioned above they work with several lenders and its all on their website. I too had issues with finding a down payment assistance program that wasnt only for inner city because im moving in the suburb area of columbus calle pickerington and because its in a different county i had a hard time finding a good DPA program so when  i stumbled upon OHFA i was soooo happy so definitely give them a try good luck

[GrwnLdy]

You should try OHFA.  They are great to work with (remember I said that as I'm waiting on them to finish underwriting my downpayment assistance grant!!)