down payment grant money

The Ohio Housing Finance Agency (OHFA) has announced that it will be bringing back its down payment assistance program. Now, the minimum down payment on any loan is 3.5%. OHFA will give qualified buyers 2.5% so the buyer would only have to come up with the remaining 1%. There are no repayment provisions on the money. The details have not yet been announced, but buyers should consider the interest rate on these loans as they may be higher than FHA or conventional rates.