| BuyingColumbusHomes.com |
| Home Buyers-Home Sellers |
(614) 527-0811
FIRST-TIME HOMEBUYER PROGRAM Effective 04/06/2009 @ 12:01am Mortgage Rates 5.50% for loans without 2.5% assistance grant* 6.00% for loans with 2.5% assistance grant 5.25% for Ohio Heroes without 2.5% assistance grant* 5.75% for Ohio Heroes with 2.5% assistance grant 30-year fixed rate FHA/VA/USDA-RD/conventional loans are eligible 2-1 buydowns are permitted-please see the Underwriting Guidelines (UG) for specific product information *The second mortgage rate for borrowers who utilize OHFA's Housing Tax Credit Advantage (HTCA) Program will be 1% higher than their unassisted rate. Fees 1% origination fee $150 transfer fee to Servicer (US Bank fee) $79 tax service fee (US Bank fee) (not to exceed $90) .25% Adverse market fee (conventional loans only) Qualified Borrowers A first-time buyer is someone who has not owned or had an ownership interest in his/her principal residence in the last three years or a qualified military veteran. Target Area Loan applicants do not have to be first-time buyers. Everyone must meet certain household income limits. Acreage Limitation Up to two acres inside a municipal corporation Up to five acres outside a municipal corporation (Unless additional acreage is required by local health or safety code) Qualified Properties Existing house: one-unit single-family dwelling and duplex up to four units--see UG Spec/Nearly completed house: one-unit single-family dwelling Modular/Manufactured house: one-unit single-family dwelling--see UG Properties must meet certain sales price limits. Critical Dates April 6, 2009--October 5, 2009- Origination period: Loans must close during this period. October 19, 2009- Deliver mortgage file to master servicer by this date. Note: The recapture tax provision applies to all loans in this program. View this IRS link for an explanation on recapture of federal subsidy. Rates are subject to change without prior notice |
(614) 527-0811
(614) 527-0811
(614) 527-0811
This can be used towards the down payment and/or closing cost on a home purchase! Buyer does NOT have to be a first-time buyer! - The entire $3,500 has to go towards the buyers down payment and/or closing cost (no cash back to the buyer) - Can be used on Conventional/FHA/VA/USDA financing - Buyer must occupy the home as their primary residence - Property must be located within Huntington Bank's footprint - Income limits: Household of 1-2 = $49,500 Household of 3+ = $59,800 - Please allow 4 weeks to process the Grant Fund Request - 1-4 unit owner-occupied properties only - Grant funds are NOT repaid by the buyer. However, the borrower may be subject to recapture of some or all of these funds if within the first five year period they sell, refinance, or cease to use the property as a principal residence. |
| OHIO HOUSING FINANCE AGENCY (OHFA) Announces Rates •First-Time Home Buyers Program• Call The Anders Team right away, you can get a pre-approval in just 24 hours! |
| Huntington has just released $3,500.00 Grant Money for Purchase Transactions! Call The Anders Team Right Away! |
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Tax Credits
