Low Credit Score Financing Options

Do you have less than perfect credit? Do you have a credit score between 600-640? You may be eligible for the OHFA program. OHFA has multiple programs available for the first time home buyer.

To qualify for an OHFA loan, you must also qualify as a first-time homebuyer.

•Someone who has never owned real estate.
•Someone who has not owned or had an ownership interest in his/her principal residence in the last three years.
•Be a qualified military veteran.
•Purchase a home in a target area.
Check out our Target Area Loan Program.
•Be creditworthy. Minimum credit scores may apply.
•Have a signed Purchase and Sales Agreement for a qualifying property.
•Qualify for the loan being requested. Lenders will assess your ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.

OHFA offers a down payment assistant program as well! If you need help with the normal 3.5% down you may be eligible for the grant money!
If you qualify for one of OHFA's home loan programs, you can choose to take advantage of the Down Payment Assistance Grant.

•OHFA will issue a grant in an amount up to 2.5% of your home's purchase price.
•You can use the grant to pay for the down payment, closing costs, or other prepaid expenses incurred prior to closing. Keep in mind that while the grant will greatly reduce your expenses, you may still be required to pay for some costs out of pocket.
•If you take advantage of the grant, your mortgage interest rate will be .5% higher than OHFA's current mortgage rates.

Stop worrying about your less than perfect credit score and down payment! Call me today to get started on the right path! As you can see there are options available!!I have a process in place to help you find your dream home in 30 days or less!!
Molly Hay 614-581-2086