| Ohio Heroes Program Beginning 3/3/2008 the State of Ohio will be enhancing its loan program for affordable housing with an incentive to specific professions, referring to it as the “Ohio Heroes Program”. This program, administered by the Ohio Housing Finance Agency (OHFA), offers a 0.25% rate reduction to the already-below-market rate (5.5%) to applicants when at least one member of the household is an active-duty military person or military veteran, firefighter/emergency medical technician-paramedic, healthcare worker, police officer, or teacher. The OHFA program defines these professions as follows: Active Military & Veterans: qualified active duty service personnel include Armed Services or Reserve Forces. Qualified veterans include military members honorably discharged from any branch of the U.S. Armed Forces Firefighter/Emergency Medical Technician-Paramedic: Sworn member of a fire department whose regular duties include fire suppression or prevention, emergency medical response, hazardous materials response or response to terrorism Healthcare Workers: Certified, accredited, or licensed health care workers who are employed as a medical resident or fellow, a nurse, nursing assistant, pharmacist, pharmacy technician, physician’s assistant, medical technician, technologist or therapist Police Officer: Commissioned as a police officer by a federal, state, county or municipal or township government; or a public or private college or university; must be sworn to uphold and make arrests for violations of federal, state, county, municipal or township law. Employer must certify commission status with the general power of arrest Teachers: Employed full-time by an accredited or state-recognized public school, private school, or federal, state, county, municipal educational agency as a state-certified classroom teacher or administrator in grades K-12 The core program requirements still apply, which means an applicant (or anyone in the household of the applicant): Must not have owned a home as their principal residence for three years preceding the loan closing date Must not exceed the sales price and income limits (based on county and household size) Share this information with anyone you know who might benefit from this wonderful program enhancement and help our state’s ‘heroes’ obtain more affordable financing. |