Ohio First Time Home Buyer

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Ohio First Time Home Buyer

Special Programs
The My Community Ohio First Time Home Buyer Program Opens Doors for a Fireman, Police Officer, Paramedic, Teacher, Healthcare Worker such as Nurse, and Military Personnel. This program features 3% down financing and you receive a $500 credit toward closing costs. Also, you can have use part-time or overtime income from last 12 months to qualify.

Ohio First Time HomeBuyer FHA Program
FHA $100 down program is available if you purchase FHA foreclosure.

FHA Single Family Mortgage Limits are generally $271,050 for most counties in Ohio. Please visit FHA mortgage limits if your Metro Area doesn't appear below.

Metro Area	Single Family	2-Unit	3-Unit	4-Unit
Cleveland	$298,750	$382,450	$462,300	$574,500
Columbus	$341,250	$436,850	$528,050	$656,250
Cincinnati	$337,500	$432,050	$522,250	$649,050
Toledo	$271,050	$347,000	$419,425	$521,250
Dayton	$271,050	$347,000	$419,425	$521,250
Akron	$330,000	$422,450	$510,650	$634,600
Youngstown	$271,050	$347,000	$419,425	$521,250

VA Program
Zero down payment up to $417,000 loan amount

If you served during wartime for at least 90 consecutive days or during peacetime for at least 181 consecutive days then you are eligible for the VA Home Loan Program. If you are currently on active duty then you are eligible for the program after 90 days of active service. You are also eligible if you are on Reserve, as long as you have served for at least six years, which can be non-consecutive and in different branches of the Reserves. The Reserve branches eligible for the VA Home Loan Program are Army National Guard, Army Reserve, Air National Guard, Coast Guard Reserve, Navy Reserve, Marine Corps.

Ohio USDA Rural Program
Zero down payment with NO PMI or mortgage insurance. You must purchase home in eligible county and there are maximum income limits. The income limit for all non-high cost counties is $73,600. Cincinnati has $79,550 limit.

List of INELIGIBLE COUNTIES: Allen, Ashland, Ashtabula, Athens, Butler, Clark, Clermont, Cuyahoga, Delaware, Erie, Fairfield, Franklin, Greene, Hamilton, Hancock, Jefferson, Lake, Lawrence, Licking, Lorain, Lucas, Mahoning, Marion, Medina, Miami, Montgomery, Muskingum, Pickaway, Portage, Richland, Ross, Scioto, Stark, Summit, Trumbull, Tuscarawas, Union, Warren, Washington, Wayne, and Wood.

Visit USDA website to determine if a specific home is eligible for the program. You will need full address with zip code.

Real Estate Pulse
The Ohio housing market is starting to rebound after Cleveland’s home prices have dropped 80% from the peak. The $8,000 first time home buyer tax credit is the reason for a large number of recent home sales. Ohio was part of the rust belt and steel was a major driving force in the economy until jobs were shipped overseas. Also, auto industry job losses are making things tough in Toledo, OH. Overall, the housing market is starting to stabilize and prices are starting to edge up so if you are a Ohio first time home buyer looking for a great home at a rock-bottom price, then now may be the time to buy.

**Ohio First Time Home Buyer Stats**
Average Home Listing Price	$191,464
Unemployment Rate	10.1%
Foreclosure rate	1 in 130 homes
Most Affordable City	Canton, OH-$131,867 Akron, OH-$121,885
Best Places to Live	Highland Heights, Medina, Solon, Springboro, Twinsburg, Westerville
Fastest Growing Job Market	Healthcare

Gerald Tribuzio© 2001-2010
Phone: (847) 516-5743
Fax: (800) 351-1184
Email:jtrib@firsthomebuyers.net
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Cary, IL 60013
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