First Time Home Buyer Ohio Articles

First Time Home Buyer Loans Ohio

first time home buyer




Most mortgage loan problems can be avoided before closing. Following these simple tips will allow your loan to proceed as smoothly as possible.


Please Send Documentation in a timely fashion.

We anticipate the initial requested documents will be sent within 48 hours and additional requests may take 24-48 hours for your response. If you need extra time, communicating this is important. Our loan document checklist can be found here.


Be mindful of Large Deposits.

All large non-payroll deposits must be documented. Depending on the type, this process could be lengthy and require re-underwriting. If possible, please put off large deposits until after your transaction is complete.


Steer clear of credit increases or inquiries.

We do a soft credit pull before funding to see if there are new inquiries or an increase in credit balances. We advise avoiding significant increases to credit balances or opening new debt during your purchase.

usda loan
What is the USDA Loan?

USDA loans are mortgages backed by the U.S. Department of Agriculture as part of its USDA Rural Development Guaranteed Housing Loan program. The USDA loan is available to home buyers with below-average income, offer 100% financing with reduced mortgage insurance premiums, and feature below-market mortgage rates.


Who is the Loan For?
  • Someone who meets income-eligibility
  • Agrees to personally occupy the dwelling as their primary residence
  • Is a U.S. citizen, a U.S. non-citizen national or qualified alien, or has the legal capacity to incur the loan obligation
  • Has not been suspended or debarred from participation in federal programs
  • Demonstrates the willingness to meet credit obligations in a timely manner
  • Purchases a property that meets all program criteria
  • Must provide a credit history report; but the flexible guidelines allow potential homeowners with spotty or bad credit [...]
first time home buyer


Buying your first home can be an intimidating experience. There are numerous things to take into consideration, from finding the right house to financing. But, being a first time home buyer does come with some advantages.


First Time Home Buyer Programs


First time home buyers often have access to special loan programs that can assist them in getting into a home more quickly and less expensively than those who have purchased homes previously. These programs offer first time buyers benefits such as down payment assistance, discounted interest rates, and a limit to the fees that a lender may charge them. Meet with a mortgage consultant to discuss OHFA’s My Choice, Ohio Hero’s, or Grants for Grads. One of these programs might be the perfect option for you if you’re a first time home buyer in Ohio.

These programs are generally available only to people who are going to live in the home [...]

first time home buyer
Save, Save, Save

As a first time home buyer, your first step is to SAVE as much as you can. If you have 3 to 5 months’ worth of mortgage payments set aside, it will make you a much better loan candidate. You also need to save for the down payment and closing costs. These are the payments you will need up front to buy the house along with various fees.



Make sure you budget so you can afford a house. Cut out the extra spending and save it for the house of your dreams. The more you save the more you get in a house. The budget will help you decide what you can look for in a house.


Keep Up on Your Credit

You want to constantly look at your credit and make sure it is all lined up for a loan. The higher your credit score the better your chances [...]

    Back to top