First-Time Homebuyer Programs in Westerville, Ohio

Buying your first home is an exciting milestone, and the right financing can make all the difference. At Westerville Mortgage Company, we help first-time homebuyers throughout Westerville and Central Ohio navigate available loan programs with confidence.

Ohio offers several valuable resources designed to make homeownership more accessible. Through programs supported by the Ohio Housing Finance Agency (OHFA), eligible buyers may qualify for affordable mortgage options including:

  • 30-year fixed-rate conventional loans

  • FHA loans

  • VA loans

  • USDA Rural Development mortgages

These programs are built to reduce upfront costs and help more buyers move into their first home sooner.

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Down Payment Assistance for First-Time Buyers

Saving for a down payment is often the biggest hurdle for new buyers — but assistance programs can help bridge the gap.

Qualified homebuyers may receive down payment assistance equal to 2.5% or 5% of the home’s purchase price. These funds can be used toward:

  • Down payment costs

  • Closing expenses

  • Approved pre-closing items

With less cash required upfront, many buyers discover they are able to purchase a home earlier than expected.

Do You Qualify for First-Time Homebuyer Assistance?

You may be eligible for Ohio first-time homebuyer programs if one or more of the following apply:

  • You have not owned a primary residence within the past three years

  • You are a veteran or have received an honorable military discharge

  • You are purchasing a home in an approved target area

Additional qualification factors typically include income limits, debt-to-income ratios, minimum credit scores, and other loan-specific guidelines.

General Requirements May Include:

  • Minimum credit score of 640 for Conventional, USDA, and VA loans

  • Minimum credit score of 650 for FHA loans

  • Purchase of an eligible property meeting acreage and safety guidelines

Eligible properties often include:

  • Single-family homes

  • Approved condominiums

  • Duplexes and up to four-unit properties

  • New construction homes

  • Modular and manufactured homes

Our loan experts can help you determine which programs align with your financial goals.

Take the quiz to see if you qualify for this program

Mortgage Tax Credit Opportunities

Some qualified first-time buyers may benefit from a Mortgage Credit Certificate (MCC) when paired with an OHFA loan and down payment assistance.

This federal tax credit allows homeowners to claim up to 40% of their annual mortgage interest — potentially delivering significant savings each year for the life of the loan (up to 30 years).

It’s a powerful advantage that can improve affordability long after closing.

Ohio Heroes Mortgage Assistance Program

The Ohio Heroes Program rewards professionals who serve our communities by offering reduced mortgage interest rates to qualified buyers.

Eligible occupations may include:

  • Veterans and active-duty military members (including surviving spouses)

  • Police officers and first responders

  • Healthcare professionals

  • Teachers and other public service roles

Both first-time and repeat homebuyers may qualify.

If you dedicate your career to supporting the community, this program is designed to support you on your path to homeownership.

Explore the various loan assistance programs available by reaching out to the knowledgeable team at Westerville Mortgage Company for assistance!