First-Time Homebuyer Programs & Assistance Guide
Columbus Metro Area • Central Ohio • State & National Programs
Updated March 2026
There are dozens of programs designed to help you buy your first home with less money out of pocket. This guide covers every grant, loan, and assistance program available to Columbus-area buyers — local, state, and national.
Jump to:Down Payment Assistance · Government-Backed Loans · Specialized Programs · Closing Cost Assistance · Local Bank & Credit Union Programs · What's Ahead · Stacking Scenarios · Quick Reference
This guide is for informational purposes only. Program details and eligibility change frequently. Always verify with your lender or the administering agency.
1. Down Payment Assistance (DPA)
Down payment assistance programs provide funds to help cover part or all of your down payment. These come as forgivable loans or outright grants. Here are the key programs available in the Columbus metro area.
OHFA Your Choice! Down Payment Assistance
The Ohio Housing Finance Agency (OHFA) operates the most widely used DPA program in Ohio.
Assistance Amount: 3% of purchase price for Conventional loans; 3.5% for Government loans (FHA, VA, USDA). Updated July 2025.
Structure: Second mortgage loan, applied toward down payment, closing costs, or pre-closing expenses.
Forgiveness: Fully forgiven after 7 years. Sell or refinance before 7 years and the full amount must be repaid.
Credit Score: 640 minimum (Conventional, VA, USDA); 650 minimum (FHA).
Income Limits: Varies by county, household size, and target vs. non-target area. Franklin County example: 1-2 person non-target ~$115,320; 3+ person ~$134,540. Target area limits are higher.
Purchase Price Limit: Franklin County: approximately $349,526 (non-target) to $427,198 (target area).
Location: Statewide — all 88 Ohio counties. Must be a primary residence.
Requirements: First-time buyer (no ownership in past 3 years), HUD-approved homebuyer education, OHFA-approved lender.
Contact:myohiohome.org | 888-362-6432
City of Columbus — American Dream Downpayment Initiative (ADDI)
The City of Columbus operates its own DPA through the Housing Division, specifically for properties within Columbus city limits.
Assistance Amount: Up to 6% of purchase price (max $5,000–$7,500 depending on funding).
Structure: Deferred, forgivable loan.
Forgiveness: Forgiven after 5 years of continuous owner-occupancy.
Income Limit: At or below 80% of Area Median Income (AMI). Franklin County: approximately $79,900 for a 1-person household (varies by household size).
Location: Single-family home or condo within City of Columbus / Columbus City School District.
Requirements: First-time buyer, HUD-certified homebuyer education, 6 months Ohio residency, buyer contributes at least $500 of own funds.
Contact: Columbus Housing Division | 614-645-8621
Franklin County DPA (via Homeport)
Franklin County partners with Homeport, a Columbus-based nonprofit, to administer DPA using CDBG, HOME, and ARPA funds.
Assistance Amount: Up to $15,000 for down payment and closing costs.
Structure: Deferred forgivable loan.
Income Limit: At or below 80% AMI. Franklin County: approximately $79,900 for a 1-person household.
Location: Property must be in Franklin County.
Requirements: First-time buyer (or no ownership in past 3 years), HUD-approved homebuyer education, Homeport-approved lender.
Contact:homeportohio.org | 614-221-8889
Homeport Rise Up Program
Launched in 2024, Rise Up is specifically designed for first-generation homebuyers — people whose parents never owned a home during the buyer's childhood.
Grant Amount: Up to $25,000 — one of the largest individual grants in the Columbus metro area.
Structure: Grant — no repayment required.
Income Limit: At or below 120% AMI.
Location: Property must be in Franklin County.
Eligibility: First-generation homebuyer and first-time buyer.
Funding: $5.6 million total fund. Over 200 families assisted since launch. Limited — apply early.
Contact:homeportohio.org | 614-221-8889
At $25,000, this grant alone can cover a full down payment on a home up to $715,000 (at 3.5% FHA) or be combined with other programs for maximum impact.
National Homebuyers Fund (NHF)
A nationwide nonprofit providing DPA and closing cost assistance. Does not require you to be a first-time buyer.
Assistance: Up to 5% of the loan amount as a grant or 0% forgivable loan (forgiven after 3 years).
Income Limit: None — no income restriction.
Location: Nationwide.
Credit Score: 640 minimum. Works with FHA, VA, USDA, and conventional loans.
Contact:nhfloan.org
2. Government-Backed Loan Programs
These loans are backed by federal agencies, allowing lenders to offer lower down payments, flexible credit, and unique benefits.
Loan Program Comparison
FHA
Down Payment: 3.5%
Income Limit: None
Credit Score: 650
PMI/Insurance: MIP (life of loan)
Seller Concessions: Up to 6%
Loan Limit (Franklin Co.): $591,100
VA
Down Payment: 0%
Income Limit: None
Credit Score: 640
PMI/Insurance: None
Seller Concessions: 4% + all closing costs
Loan Limit: No limit
USDA
Down Payment: 0%
Income Limit: $119,850
Credit Score: 640
PMI/Insurance: Guarantee fee
Seller Concessions: Up to 6%
Loan Limit: Income-based
Conventional
Down Payment: 3%
Income Limit: 80% AMI
Credit Score: 640
PMI/Insurance: PMI until 20% equity
Seller Concessions: 3–6%
Loan Limit: Conforming
FHA Loans
Insured by the Federal Housing Administration. The most popular option for first-time buyers with lower credit scores.
Down Payment: 3.5% (with 580+ credit score). No income limit. Upfront mortgage insurance (1.75%) can be rolled into the loan. Monthly MIP required for life of loan. Franklin County loan limit: $591,100 (2026). Available nationwide.
VA Loans
Guaranteed by the U.S. Department of Veterans Affairs. Available to veterans, active-duty, National Guard/Reserve, and eligible surviving spouses.
Zero down payment. No income limit. No loan limit. No PMI ever — saving $150–$400/month. VA funding fee (0.5%–3.3%) can be rolled into the loan; waived for service-connected disabilities.
VA Closing Cost Advantage: Sellers can pay ALL of your normal closing costs without counting toward the 4% concession cap. The 4% only applies to extras like prepaids and paying buyer debts.
USDA Rural Development Loans
Zero down payment for properties in eligible rural and suburban areas.
Eligible Areas: Parts of Delaware, Licking, Fairfield, Madison, Pickaway Counties, and some outer Franklin County areas. Income Limit: $119,850 for 1-4 person households; $158,250 for 5+. Check eligibility at eligibility.sc.egov.usda.gov.
3. Specialized Discounts & Credit Programs
OHFA Ohio Heroes
Enhanced benefits for community heroes who serve Ohio.
Eligible: Veterans, active military, police, firefighters, EMTs, paramedics, physicians, nurses, pre-K through 12 teachers and counselors.
Benefits: 0.25% discounted mortgage rate plus standard OHFA DPA (3% or 3.5%).
Income & Price Limits: Same OHFA county limits (Franklin County: ~$115,320–$134,540 income; ~$349,526–$427,198 purchase price).
Location: Statewide Ohio. Visit myohiohome.org/ohioheroes.
OHFA Grants for Grads
For recent graduates putting down roots in Ohio.
Eligibility: Graduated within past 48 months with an associate's degree or higher. First-time buyer, 640+ credit.
Benefits: Discounted rate plus 2.5% or 5% DPA — forgiven after just 5 years (vs. standard 7).
Income & Price Limits: Same OHFA county limits.
Location: Statewide Ohio. Visit myohiohome.org/grantsforgrads.
OHFA Mortgage Tax Credit (MTC)
A long-term savings tool that reduces your federal tax bill every year you own the home.
MTC Plus: 40% credit rate on mortgage interest | $2,000/year cap | OHFA mortgage required | $250 one-time fee
MTC Basic: 20% credit rate in Target Areas, 15% elsewhere | $2,000/year cap | Any lender | $250 one-time fee
The MTC is a dollar-for-dollar federal tax credit — not a deduction. On a $280,000 mortgage at 6.5%, the MTC Plus puts up to $2,000 back in your pocket every year, totaling $60,000+ over a 30-year mortgage. Same OHFA income/price limits apply. First-time buyer required (unless in a Target Area).
OHFA Target Areas
Certain Columbus neighborhoods are designated Qualified Census Tracts with enhanced benefits: higher income limits, higher MTC Basic rate (20% vs. 15%), and in some cases no first-time buyer requirement. Areas include parts of Franklinton, Linden, South Side, Near East Side, and Hilltop. Check any address at ohiohome.org/geodata/.
HUD Good Neighbor Next Door
A 50% discount on HUD-owned homes in revitalization areas.
Eligible: Law enforcement, pre-K–12 teachers, firefighters, EMTs. No income limit. The other 50% is a silent second mortgage forgiven after 3 years of owner-occupancy. Properties listed weekly at hudhomestore.gov.
Fannie Mae HomeReady & Freddie Mac Home Possible
Conventional loans with only 3% down and reduced PMI rates. Minimum 620 credit. Income Limit: 80% AMI (Franklin County: ~$79,900 for 1-person household). Available nationwide. Can be combined with OHFA DPA.
4. Closing Cost Assistance
Closing costs typically run 2%–5% of the purchase price. On a $300,000 home, that is $6,000 to $15,000.
Seller Concessions by Loan Type
FHA: Up to 6% — covers origination, title, appraisal, prepaids, UFMIP, points.
VA: 4% + all closing costs — seller pays ALL normal closing costs unlimited; 4% cap applies only to extras.
USDA: Up to 6% — standard closing costs and prepaids.
Conventional (<10% down): 3% — with 10–25% down, increases to 6%.
Using OHFA DPA for Closing Costs
OHFA's DPA can be applied toward closing costs, not just the down payment. If your loan requires little or no down payment (VA/USDA), you can direct the full 3%–3.5% toward closing costs instead.
VA Loan Closing Cost Strategy
Funding fee: Can be financed into the loan (waived for disabled vets). Seller-paid closing costs: Unlimited for actual closing costs. Lender credits: Available in exchange for slightly higher rate. Many VA buyers close with $0 out of pocket.
Other Strategies
Lender Credits: Available on any loan type — lender pays some costs for a slightly higher rate.
Gift Funds: All major loan types allow family gift funds for closing costs.
Employer Assistance: Some employers offer homebuyer programs.
Negotiated Credits: Often possible, especially on homes that have been on the market a while.
5. Local Bank & Credit Union Programs
Columbus-area lenders offer their own grants and credits that can be stacked with OHFA DPA and seller concessions.
KeyBank — KeyCommunity Mortgage
Down Payment: None required — 100% financing.
PMI: None.
Credit Score: 660 minimum.
Income Limit: No limit in LMI census tracts; below 80% AMI in other tracts.
Location: KeyBank Assessment Area, primary residence. Cannot own other real estate at closing.
Closing Timeline: 21+ days.
KeyBank — Neighbors First Grant
Grant Amount: $5,000 toward closing costs, prepaids, points, or buyer agent commission.
Repayment: None — it is a grant.
Income Limit: No income restriction.
Loan Compatibility: Any loan type — VA, FHA, Conventional, Doctor/Dentist, etc.
Requirement: Primary residence in an eligible census tract.
Contact: key.com | 1-866-414-4533
Stacking Example: KeyCommunity ($0 down, no PMI) + $5,000 Neighbors First Grant + OHFA DPA (3%) = potentially $0 out of pocket on a conventional loan.
FHLB Cincinnati — Welcome Home Program
One of the largest grant programs available — but also one of the most competitive.
Grant Amount: $10,000–$20,000 for down payment and/or closing costs. Military/veterans: up to $25,000.
Structure: Grant — no monthly payments. 5-year retention: sell or refi within 5 years and some/all must be repaid.
Income Limit: Total household income at or below 80% of Mortgage Revenue Bond limit for your county.
Location: All of Ohio, Kentucky, and Tennessee.
Buyer Contribution: Minimum $500 of your own funds.
Contract Required: A fully executed purchase contract (signed by buyer and seller) must be in hand before your lender can submit the reservation.
No Co-Signors: Must qualify on your own merit.
2026 Opening: 8:00 AM ET, Monday, April 6, 2026. Each lender capped at $300,000/year.
Critical: Funds Run Out Fast. This is first-come, first-served and historically runs out within hours. You need: (1) pre-approval with a participating lender well before April 6, (2) a signed contract BEFORE the opening, and (3) your lender ready to submit the reservation the moment the portal opens. This is not a program you apply for after you start house-hunting — you must be deal-ready on day one.
Telhio Credit Union
$1,500 Closing Cost Credit for Homebuyer Plus account holders with a Telhio mortgage. No income restriction. Also a participating FHLB Welcome Home lender (80% AMI applies for Welcome Home). Homebuyer Plus savings at 6.30% APY. telhio.org | 614-221-3233 ext. 8155.
KEMBA Financial Credit Union
Participating FHLB Welcome Home lender (80% AMI applies). Competitive Homebuyer Plus APY (no income restriction). Serves central Ohio. kemba.org | 614-235-2395 (Option 4).
Pathways Financial Credit Union
$850 Closing Cost Credit for Homebuyer Plus account holders who finance with Pathways (account open 6+ months). No income restriction. Conventional loans only — FHA and VA excluded. West/south Columbus. pathwayscu.com.
Huntington Bank — Home for Good
Income Limit: At or below 140% AMI. DPA: Up to 2% of sale price (max $5,000) for first-time buyers. Expanded credit flexibility with alternative credit history. Columbus and select Ohio markets. huntington.com.
Ohio Homebuyer Plus Savings Account
Statewide program from the Ohio Treasurer's Office — not a grant, but a savings supercharger.
APY: 6.0%–7.0%+ (varies by institution). Tax Advantage: Contributions deductible from Ohio state income tax — and the deduction can also be claimed by a parent, spouse, sibling, or grandparent. Funds must be used for down payment or closing costs on an Ohio primary residence within 5 years. $500 min balance, $100,000 max. No income restriction. Visit tos.ohio.gov/homebuyerplus.
Habitat for Humanity — MidOhio
Families contribute sweat equity to build their home. Habitat provides a 0% interest mortgage. Income: 30–80% AMI. Service area: Franklin, Licking, and surrounding counties. habitatmidohio.org | 614-427-4663.
6. What's Ahead
Columbus $500 Million Housing Bond
In November 2025, Columbus voters approved a $500 million affordable housing bond — the largest in city history. A significant portion is earmarked for homeownership expansion, including new DPA programs, land trust development, and neighborhood stabilization. Expect new opportunities as funds are deployed.
Columbus Homeownership Development Program (HDP)
Up to $60,000 per unit in deferred, forgivable loans to builders constructing homes for income-eligible buyers. Ask your agent about HDP-eligible properties.
Federal Legislation Watch
Two bills in Congress: the American Homeownership Opportunity Act ($50,000 tax credit over 5 years) and the First-Time Homebuyer Tax Credit Act ($15,000 at closing). Both introduced but NOT passed as of March 2026. Worth watching.
Putting It All Together
The real power is in combining programs.
Scenario 1: First-Time Buyer, FHA Loan
$300,000 purchase. Down payment (3.5%): $10,500 — covered by OHFA DPA. Closing costs (~3%): $9,000 — covered by 4% seller concession ($12,000). Out-of-pocket: Near $0.
Scenario 2: Veteran, VA Loan
$350,000 purchase. Down payment: $0. Funding fee: rolled into loan. Closing costs: seller pays all. OHFA DPA (3.5%) = $12,250 applied to prepaids. Out-of-pocket: $0.
Scenario 3: Recent Grad, Conventional
$275,000 purchase. Down payment (3%): $8,250 — covered by Grants for Grads DPA. Closing costs: 3% seller concession. Plus MTC = $2,000/year tax savings. DPA forgiven after 5 years. Out-of-pocket: Near $0.
Homebuyer Education Required: Nearly all OHFA programs require a free HUD-approved course. The OSU Extension in Franklin County offers a HUD-certified, City of Columbus-approved program. Complete this early.
Quick Reference
OHFA Your Choice! — DPA (forgivable), 3%–3.5%. First-time buyer, 640+ credit, OHFA income limits.
Columbus ADDI — DPA (forgivable), up to $7,500. 80% AMI, Columbus city limits.
Homeport DPA — DPA (forgivable), up to $15,000. Franklin Co., 80% AMI.
Homeport Rise Up — Grant, $25,000. 1st-gen buyer, Franklin Co., 120% AMI.
NHF — Grant or loan, up to 5%. 640+ credit, any buyer, no income limit.
Ohio Heroes — Rate + DPA, 3%–3.5%. Military, police, fire, medical, teachers.
Grants for Grads — Rate + DPA, 2.5%–5%. Degree within 48 months.
OHFA MTC — Tax credit, up to $2K/yr. First-time buyer, OHFA limits.
Good Neighbor Next Door — 50% discount. Teachers, police, fire, EMTs.
FHA — Gov mortgage, 3.5% down. 650+ credit, no income limit.
VA — Gov mortgage, $0 down. Veteran/military, no income limit.
USDA — Gov mortgage, $0 down. Rural/suburban, ~$119,850 income limit.
KeyCommunity — $0 down, no PMI, 100% financing. 660+ FICO, KeyBank area.
Neighbors First — Grant, $5,000. No income limit, any loan type.
FHLB Welcome Home — Grant, $10K–$25K. 80% AMI, signed contract, participating lender.
Telhio — Closing credit, $1,500. Homebuyer Plus acct, no income limit.
Huntington — DPA, up to $5,000. 140% AMI, Columbus area.
Homebuyer Plus — Savings acct, 6–7%+ APY. Ohio resident, any income.
Habitat MidOhio — 0% mortgage. 30–80% AMI, sweat equity.
Next Steps
1. Get pre-approved. Connect with an OHFA-approved lender who knows these programs. I am happy to provide recommendations.
2. Complete homebuyer education. Required for most programs and valuable knowledge for the process ahead.
3. Determine your eligibility. Your lender will identify which programs you qualify for and how to stack them.
4. Start your home search. Once you are pre-approved, we will find the right home for you.
Let's Talk. Every buyer's situation is different. I can connect you with lenders who specialize in these programs and walk you through the best strategy for your specific situation. Call or text me anytime at 614-602-1090 or email kylesnyder@sellcbus.com.