OHFA Loans now at 4.25%

Mortgage Rates

4.25% for loans without 2.5% assistance grant*

4.75% for loans with 2.5% assistance grant

4.00% for Ohio Heroes without 2.5% assistance grant*

4.50% for Ohio Heroes with 2.5% assistance grant

4.25% for Grant for Grads 2.5% assistance grant

30-year fixed rate FHA/VA/USDA-RD loans are eligible

2-1 buy downs are permitted, please see the underwriting guidelines for specific product*

Fees

$150 transfer fee to Servicer (US Bank fee)

$ 79 tax service fee (US Bank fee) (not to exceed $90)

1% origination fee

Additional fees maybe apply to certain products

Qualified Borrowers

A First-time buyer is defined as someone who has not owned or had an ownership interest in his/her principal residence within the last three years or is a qualified military veteran.

Not a first-time homebuyer or a military veteran?

Target Area Loan applicants do not have to be first-time buyers.

All buyers must meet certain household income limits

Acreage Limitation

Up to two acres inside a municipal corporation - Up to five acres outside a municipal corporation

(Additional acreage permitted if required by local health or safety code)

Qualified Properties

Existing house: one-unit single-family dwelling and duplex up to four units, please see the Underwriting Guidelines for specific product

Spec/Nearly completed house: one-unit single-family dwelling

Modular/Manufactured house: one-unit single-family dwelling, please see the Underwriting Guidelines for specific product

Properties must meet certain sales price limits

Effective Dates

September 13, 2010 to February 14, 2011 - Origination period: Loans must close during this period.

February 21, 2011- 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 (http://www.irs.gov/pub/irs-pdf/p523.pdf) for an explanation on recapture of federal subsidy.