Buying your first home? Our free Ohio First-Time Home Buyer Guide explains how much you really need for a down payment, the Ohio Housing Finance Agency programs that can help (down payment assistance, Grants for Grads and Ohio Heroes), how to get your credit ready, and a step-by-step game plan, plus the affordable Greater Cleveland communities first-time buyers love.
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Low down payment options, Ohio Housing Finance Agency programs, credit tips, a glossary and the affordable areas first-time buyers love. Enter your name and email and the PDF is ready right away.
What’s inside
- Renting vs. buying and signs you are ready
- Budget rules of thumb and first-year homeowner costs
- Down payment options: conventional, FHA, VA and USDA
- Ohio Housing Finance Agency programs
- Getting your credit ready and the documents lenders need
- A first-time buyer glossary
- Your first-home game plan and affordable areas to start
More free guides
Frequently asked questions
How much do I need for a down payment in Ohio?
Conventional loans start at 3% down for qualified first-time buyers, FHA at 3.5%, and VA and USDA loans can require nothing down for eligible buyers and areas.
What Ohio programs help first-time buyers?
The Ohio Housing Finance Agency offers down payment assistance equal to 3% or 3.5% that is forgiven after seven years, Grants for Grads for recent graduates, and Ohio Heroes for public-service workers. Income, price and credit limits apply; confirm current terms at ohiohome.org.
What credit score do I need?
FHA loans can go as low as 580 with 3.5% down, many conventional loans need 620 or higher, and OHFA programs generally need about 640 to 650.
Can family help with my down payment?
Yes. Most loan programs allow gift funds from family with a signed gift letter.
Which Cleveland suburbs are most affordable for first-time buyers?
Lorain, Elyria, South Euclid, Cleveland Heights, Sheffield Lake, Parma and Brook Park all had median sale prices under about $240,000 over the past year, based on MLS Now closed sales. Our free Community Guide lists all 62 communities by price.