Buying your first home can feel overwhelming, especially when you are trying to understand down payments, credit requirements, closing costs, and the different loan programs available. I help first-time homebuyers throughout West Central Ohio and across the state understand their options, prepare for preapproval, and move forward with confidence.
You May Be Closer to Homeownership Than You Think
Many buyers assume they need perfect credit or a large down payment before purchasing a home. That is not always the case. Depending on your income, credit profile, location, and other qualifications, several loan and assistance programs may help reduce the amount of money needed upfront.
Loan Options for First-Time Homebuyers
There is no single mortgage program that is best for every first-time buyer. The right option depends on your complete financial picture, the property, and your long-term plans. Available options may include:
FHA loans – Qualified buyers may be able to purchase with as little as 3.5% down and may have more flexibility with past credit challenges.
Conventional loans – Some qualified first-time buyers may be eligible for options requiring as little as 3% down.
USDA loans – Eligible buyers purchasing in qualifying rural areas may be able to finance a home with no down payment.
VA loans – Eligible veterans, active-duty service members, and certain surviving spouses may qualify for no-down-payment financing.
OHFA programs – Qualified Ohio buyers may have access to down-payment assistance and other homebuyer programs.
Ohio Down-Payment Assistance Programs
The Ohio Housing Finance Agency offers programs that may help qualified buyers with their down payment, closing costs, or other eligible expenses. Depending on the current program and the buyer’s qualifications, assistance may be available for a percentage of the home’s purchase price.
OHFA programs have income limits, purchase-price limits, credit requirements, homebuyer-education requirements, and specific repayment or forgiveness terms. Interest rates and program availability can also change, so it is important to compare the assistance with the complete cost of the mortgage instead of looking only at the money provided upfront.
Who Is Considered a First-Time Homebuyer?
You may still qualify as a first-time homebuyer even if you owned a home years ago. Many programs generally consider someone a first-time buyer if they have not had an ownership interest in a primary residence during the previous three years. Definitions and exceptions vary by program, so your complete history should be reviewed before ruling out any options.
Start With a Mortgage Preapproval
Before touring homes, it helps to understand what you may qualify for and how much money you may need at closing. A mortgage preapproval reviews your income, assets, credit, and monthly debts so you can establish a realistic price range and compare the loan programs that fit your situation.
Getting preapproved early can also uncover issues that may need attention before you make an offer. That gives us time to build a plan instead of discovering a problem after you have already found a home.
Plan for More Than the Down Payment
Your down payment is only one part of the money needed to purchase a home. Buyers may also need funds for an earnest-money deposit, home inspection, appraisal, closing costs, prepaid property taxes, homeowners insurance, and initial escrow funding. Some expenses may be covered through eligible assistance, gift funds, or negotiated seller contributions, depending on the loan program and transaction.
I provide a clear estimate of the expected costs so you understand where the money is going and can prepare before making an offer.
Local Guidance From Preapproval Through Closing
I live in Logan County and help first-time homebuyers throughout West Central Ohio and across the state. I regularly work with buyers in the Bellefontaine, Sidney, Urbana, Marysville, Wapakoneta, Lima, Troy, and Dayton areas.
My job is to explain the options in plain English, answer your questions, and keep you updated throughout the process. You will have a local loan officer you can call—not an unfamiliar person at a national call center.
Working With Me
Chad Perk
Mortgage Loan Officer | NMLS #563626
Western Ohio Mortgage Corporation | NMLS #9601
Whether you are ready to apply or simply want to understand what may be possible, I am happy to review your situation and give you straightforward answers without pressure.