Ohio (OH) FHA Home Loans
Ohio FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Ohio borrowers the opportunity to secure OH home loans, when they don’t quality for other conventional loans. For example, future Ohio homeowners with little credit history or poor credit history are sometimes able to qualify for Ohio FHA loans.
Ohio FHA Loans for First Time Homeowners
OH FHA loans are ideal for first-time Ohio homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing with FHA Loans in Ohio
FHA also offers a refinancing option for Ohio homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent.
FHA Loan Requirements – Ohio
- No income limit
- Ohio borrower credit score flexibility
- 3.5 percent down payment on Ohio Purchase Loans
- Bankruptcy: OH FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: Ohio FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
What are FHA Loan Limits FHA loan limits in Ohio vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in Ohio), etc. Contact Home Point Financial to learn more about FHA Loans in Columbus, Cleveland, Cincinnati and throughout Ohio.
