OHFA Rates & Programs 2026: Your Choice! DPA Up to 5% — Ohio Heroes & Grants for Grads
Ohio's state housing agency offers one of the most flexible DPA structures in the country. OHFA's Your Choice! gives buyers 2.5% or 5% down payment assistance — forgivable after 7 years — with first mortgage rates from 5.95%. Ohio Heroes unlocks a lower rate for teachers, nurses, firefighters, and veterans. Grants for Grads serves recent college graduates. Here's the complete June 2026 guide.
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5.95%
OHFA Rate (June 2026)
Your Choice! 2.5%
5%
Max DPA (5% option)
forgiven after 7 yrs
640
Min Credit Score
all OHFA programs
5 Years
Grads Forgiveness
Grants for Grads only
Teacher, nurse, veteran, or firefighter in Ohio? Ohio Heroes gives you the same 5% DPA but at the lower 5.95% rate regardless of DPA amount. Check eligibility in 2 minutes.
Check My DPA Options →OHFA Programs 2026 — Comparison Table
| Program | Rate (est.) | DPA Amount | Min Credit | DPA Forgiven After |
|---|---|---|---|---|
| ✅ FORGIVABLEOHFA Your Choice! 2.5% | 5.95% | 2.5% of purchase price | 640 | Yes (7 years) |
| 💰 MAX DPAOHFA Your Choice! 5% | 6.15% | 5% of purchase price | 640 | Yes (7 years) |
| 🦸 HEROES RATEOhio Heroes | 5.95% | 2.5% or 5% DPA | 640 | Yes (7 years) |
| 🎓 RECENT GRADSGrants for Grads | 5.95% | 2.5% or 5% DPA | 640 | Yes (5 years) |
| 📋 TAX CREDITOHFA Mortgage Tax Credit (MTC) | Market rate | Tax credit 25-40% | 640 | N/A |
Rates as of June 2026. Verify at ohiohome.org or with an OHFA-approved lender.
OHFA programs work with FHA, VA, USDA, and conventional loans. Compare OHFA lender rates — fees vary significantly between lenders.
Ohio Heroes — Who Qualifies?
Ohio Heroes gives qualifying community servants a lower mortgage rate regardless of which DPA amount they choose — uniquely different from most states where heroes programs only affect the DPA amount.
K–12 Teachers & Education Staff
Police Officers & Law Enforcement
Firefighters & EMTs
Veterans & Active Military
Nurses & Healthcare Workers
Physicians & Dental Professionals
Not sure if you qualify as a hero? Check Ohio Heroes eligibility with an OHFA-approved lender — they verify employment as part of the standard pre-approval process.
OHFA Income Limits 2026 by County
| County / Metro | 1-2 Person Limit | 3+ Person Limit | Max Purchase Price |
|---|---|---|---|
| Franklin (Columbus) | $109,200 | $125,580 | $766,550 |
| Cuyahoga (Cleveland) | $97,000 | $111,550 | $766,550 |
| Hamilton (Cincinnati) | $97,500 | $112,125 | $766,550 |
| Summit (Akron) | $91,200 | $104,880 | $766,550 |
| Montgomery (Dayton) | $87,500 | $100,625 | $766,550 |
| Lucas (Toledo) | $84,000 | $96,600 | $766,550 |
| Stark (Canton) | $82,500 | $94,875 | $766,550 |
| Butler (Fairfield) | $97,500 | $112,125 | $766,550 |
| Lorain | $97,000 | $111,550 | $766,550 |
| Delaware (Columbus suburb) | $109,200 | $125,580 | $766,550 |
Source: OHFA 2026 guidelines. Verify at ohiohome.org or with an OHFA-approved lender.
Income over limits? Compare conventional lenders with no income caps. Credit below 640? Boost your score with Spike — or explore FHA from 580 FICO.
Ready to buy in Ohio with OHFA?
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How to Apply for OHFA — Step by Step
- 1
Complete free OHFA homebuyer education
Required for all DPA programs. Free online at ohiohome.org or in-person through an OHFA-approved counselor.
- 2
Find an OHFA-approved lender
Search at ohiohome.org or compare through our partner network. Rates and fees vary — always compare 2+ lenders.
- 3
Choose Your Choice! 2.5% or 5%
Your lender will help you decide — 2.5% gives you a lower first mortgage rate (5.95%); 5% gives more assistance at 6.15%.
- 4
Get pre-approved
Income, credit, and OHFA program approval takes 2–4 business days.
- 5
Buy and close — DPA funded at closing
The DPA second mortgage funds at closing. Make 7 years of payments (5 for Grads) and it disappears completely.
OHFA FAQ 2026
What is OHFA?
OHFA stands for Ohio Housing Finance Agency. It is the state agency responsible for financing affordable housing in Ohio. OHFA offers below-market mortgage rates, forgivable down payment assistance, and special programs for Ohio heroes and recent college graduates through a statewide network of approved lenders.
What are current OHFA rates in 2026?
As of June 2026, OHFA Your Choice! 2.5% program rates start at approximately 5.95% for a 30-year fixed loan. The 5% DPA option carries a slightly higher rate of around 6.15% to fund the larger assistance amount. Ohio Heroes program rates match the 2.5% program at 5.95%. Rates change weekly.
How does OHFA Your Choice! DPA work?
Your Choice! gives you 2.5% or 5% of the purchase price as a second mortgage. The key feature: if you stay in the home for 7 years (5 years for Grants for Grads), the entire second mortgage is forgiven — completely. If you sell or refinance before 7 years, you repay the prorated remaining balance. It is not a grant from day one, but becomes one after 7 years.
What is OHFA Ohio Heroes?
Ohio Heroes is a program within OHFA that offers the same Your Choice! DPA (2.5% or 5%) but with a lower interest rate on the first mortgage. Qualifying professions include: K-12 teachers, police officers, firefighters, EMTs, veterans, nurses, and doctors. Ohio Heroes borrowers get the 5.95% rate regardless of which DPA amount they choose.
What is OHFA Grants for Grads?
Grants for Grads is designed for recent college graduates who completed an associate's, bachelor's, master's, or doctoral degree within the past 4 years. It offers the same DPA as Your Choice! (2.5% or 5%) but with a shortened 5-year forgiveness period instead of 7 years. The program also does not require first-time buyer status.
What income limits apply for OHFA 2026?
OHFA income limits vary by county. Columbus (Franklin County) and its suburbs have higher limits around $109,200 for 1-2 person households. Cleveland and Cincinnati metro areas have limits around $97,000–$97,500. Rural and smaller market counties have lower limits. All borrower incomes are counted toward the limit.
Can OHFA be combined with the Ohio Mortgage Tax Credit?
Yes! The Ohio Mortgage Tax Credit (MTC) lets first-time buyers convert 25–40% of their annual mortgage interest into a federal tax credit (capped at $2,000/year). You can combine the MTC with any OHFA Your Choice! program, giving you both forgivable DPA and an ongoing federal tax credit. Apply for both through the same OHFA-approved lender.
Related State Housing Program Guides
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