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The Ohio Housing Finance Agency announced its new homebuyer tax advantage credit program. Eligible borrowers will receive a second loan for 3% of the purchase price and can use this money toward the down payment or closing costs. The buyers would not be required to start repaying the second mortgage until August 1, 2010. Once they receive their $8000 tax credit they may use this money to repay the mortgage if they would like and there are incentives to repay it before June 30, 2010. The second mortgage would have an interest rate 1% higher than the first.
For more information please check the OHFA Homebuyer Tax Credit Advantage Program Website.
Have you thought about buying your own house or condo, but aren't sure where to start? This blog should answer many of your questions ranging to local real estate and mortgage news to the process of buying your home. If you have any questions, comments, are thinking about purchasing or selling a home, or know someone who is, please feel free to contact me anytime. The finest compliment I can receive is a referral from family, friends, or past clients!
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