New Home Sweet Home Program 
The New Home Sweet Home Program is an extended lock option for homebuyers who purchase a new home and want to use OHFA's first-time homebuyer programs. By allowing for a conditional loan reservation, a lender can offer a rate lock for up to 180 days while a builder completes the construction of the home. The interest rate at the time of reservation will be set at .25% higher than OHFA's standard rate.
New Home Sweet Home is available through OHFA participating lenders. Homebuilders must have a relationship with a participating lender to reserve a loan on behalf of qualified borrowers. For details on lender participation, please contact Pete Simpson, Lender Relations Manager, at 614-466-8155 or at psimpson@ohiohome.org.
Qualified Borrowers
A first-time homebuyer 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.
Review income and purchase price limits for Homeownership Programs
Qualified Properties
One-unit single-family dwellings only.
Properties must meet certain sales price limits.
Loan Types
To meet each homebuyer's needs government-insured 30-year fixed rate loans including traditional FHA, VA, USDA-RD and Conventional are eligible. All OHFA loan products offer competitive rates and other beneficial features. Your lender can help you choose the right loan for your needs.
Additional Assistance
Eligible buyers can combine OHFA's Down Payment Assistance Grant with our New Home Sweet Home loan to help pay for down payment, closing costs, and other out-of-pocket expenses associated with buying a home. Additional incentives such as Grants for Grads or Homes for Heroes are available for qualifying homeowners.
Loan Fees
- $150 transfer fee to Servicer (US Bank fee)
- $79 tax service fee (US Bank fee not to exceed $90)
- 1% origination fee
- .25% adverse market fee (conventional loans only)
- 1% loan level price adjustment (conventional loans only)
- Additional fees may apply to certain products
Downloadable Information
You can download a New Home Sweet Home Fact Sheet (371 KB Adobe PDF File) now or visit our download center for information about any of our loan programs.
Questions?
If you need additional information, please contact:
Office of Homeownership
Ohio Housing Finance Agency
57 East Main Street
Columbus, Ohio 43215
888.362.6432
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry.
