The Ohio Housing Finance Agency, a statewide agency that provides affordable housing to low-to-moderate income first time homebuyers, just announced an interest rate reduction for new homebuyers. http://www.ohiohome.org/homebuyer/first_time.aspx. Effective January 25th, the 30 year fixed rate mortgage for its First Time Homebuyer Programs are:

  • 5.0% for loans without their 2.5% down payment assistance grant
  • 5.5% for loans with the 2.5% assistance grants
  • 4.75% for the Ohio Heroes program without 2.5% assistance grant
  • 5.25 for Ohio Heroes with 2.5% assistance grant (firefighters, police officers, health care workers, and active duty military
  • 5.05 for Grants for Grads 2.5% assistance grant

This is great news for first time home buyers who can be eligible for the $8,000 tax credit, as well as up to 2.5% of the purchase price to pay the down payment, closing costs or other prepaids. Since mortgage rates have crept up over the past several months, this OHFA rate reduction can lessen the impact of recent 30-year fixed rate increases.

For those interested in learning more about OFHA's First Time Home Buyer Programs, Keller Williams Greater Ohio Realty in Pickerington, Ohio is sponsoring a home buyer tax credit seminar with a representative from OHFA. The seminar will be January 28th at Massey's Pizza, 1755 Hill Road North, Pickerington, Ohio at 6:00 pm. Directions to Massey's Pizza: Take I-70E (Wheeling) to OH-256E, Pickerington (Exit 112A); exit right onto 256E. Continue on OH-256 about ¼ mile past Tussing Road. Turn right into strip mall (at Speedway gas station).

 For more information, contact 614-805-7793.

 

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Interested in buying or selling a home in Blacklick, Canal Winchester, Columbus, Groveport, Pataskala, Pickerington, Grove City or Reynoldsburg? I am also a short sale resource specialist and can help you work with the bank to get your home sold.

Click here to check out my website www.bernadinehunter.com  I specialize in finding solutions to your real estate needs. You can reach me by email at mtbhunter@aol.com or by phone at 614-729-9063.

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3 Comments on INTEREST RATE REDUCED FOR FIRST TIME HOME BUYERS!

JAN
26
2010
240,391 Points 2 Featured Posts

Great news for first time buyers in Ohio.  It is good to know that agents are helping to notify buyers of these opportunities.  Keep up the great work Bernadine.
11:24pm • #1
175,324 Points 1 Featured Post Outside Blog

Thanks for the encouraging words!
11:36pm • #2
APR
22
2010
1,373,678 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

WOW this looks like a great program to combine with the tax credit!!  I hope many of the eligible people will participate in this!
7:56pm • #3


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