There aren’t enough words to describe how much we appreciate the men and women that serve our country and protect us day after day. Since there aren’t enough words to translate our appreciation, deeds should be the next best thing. There are certain benefits that only military personnel or military veterans can take advantage of. They are small but meaningful gestures that the government and other agencies are passing on to our military heroes. Some of those benefits are home loan programs that are available in Ohio.
Naturally, countless military personnel is looking to settle down and invest in a roof over their head. Hence, the large demand for loans for future homeowners. But, it is important to understand that not all home loan programs and loans are one of kind. So, here is a program that you just must get acquainted with if you plan on purchasing a home in the near future.
Home loan programs for military folks in the Buckeye State
You might be already contacting Zippy Shell Columbus and thinking about taking full advantage of their professional moving services. Well, being proactive is excellent. But, you might want to take a few steps back and figure out your financial situation first. You will likely not have a place to move to unless you know exactly how you will finance your upcoming real estate investment. For most, this is the predicament that they will be in since military personnel rarely have the fund to purchase their home without a financial injection. Here is a loan option that can ensure that you and your family have your own roof over your head.
Ohio Heros Loan Program
When talking about rewards that our military has well deserved we cannot neglect to mention this wonderful and one-of-a-kind program. It is designed to assist all those that have dedicated their lives to serving our public and fighting for the greater good. And who does that more than our military personnel? Through this program, major discounts are available on mortgage rates and so much more. Once you realize all the benefits of this program you will be ready to house hunt and study all homebuying guides you can get your hands on.
Who is eligible for such home loan programs?
The list of eligibility for this type of financial assistance is by no means short. If interested you must study every little requirement that might cross your path. For starters, here is a brief list of criteria you should meet in order to qualify for this fantastic financial assistance:
- many residences who serve the public can be superb loan candidates. When it comes to the military the following can take advantage of this program: military members that are still active, veterans, members of reserve components (including spouses that have survived), etc.
- Have a score of 650 or higher recognized by the Federal Housing Administration
- Satisfy the requested income to debt ratio
- Meet the purchase price and income price limits.
- And many more
Once you have dealt with your eligibility there is still a lot that needs to be done. However, don’t be discouraged by the complex process. Time will go by fast. In no time, you will be a new Ohio homeowner looking to hire full-service movers to help you move into your new pride and joy.
You cannot skip the home buyers education
There will be no home purchasing for those that try to skip this step during the home loan approving process. Everybody that qualifies will be obligated to complete a course related to free homebuyer education. This important course will be available to potential buyers only once they have submitted all the necessary paperwork for the loan approval. However, this course will not be a must for those that are only interested in using the MTC Basic program. Once this is over you can take the next step. Start thinking about what type of home you would like and prepare the questions you would need to ask your real estate agent.
How and where can you apply for these home loan programs?
Does everything you learn so far sound like exactly what you are in the market for? If so, you are probably wondering where and how can you apply. Ohio Housing Finacial Agency (OHFA) works for hand and hand with many credit unions, lenders, and quite a few mortgage companies. We do have one important tip. Before taking any steps make sure that you are in contact with an OHFA approved lender.
Moving with professional assistance
Hopefully, the entire lending process was a success and you found the ideal property. It sure sounds like a dream come true. But once that is all said and done it is time for a new adventure. Next stop – MOVING! Usually, this part of living in a new home is something nobody looks forward to. Nevertheless, there is a painless solution to your problem. Professional movers! Many professional moving companies have services specifically made for military personnel. Our bravest man and women can enjoy their relocation with a customized moving plan, that will cover their relocation from A to Z. Let experts handle the transport, packing, gathering of moving supplies, furniture reassembling, and everything else that needs to be done on your moving day. Give yourself a well-deserved break while the professionals get the job done for you.
Other loan opportunities in Ohio
We spent most of the time on Ohio Heroes home loan programs. No wonder, since the program is the best of the best for military personnel and other occupations that dedicate themselves to our nation. Still, we must mention that there are other programs as well. Since we couldn’t cover all the options available in Ohio, make it your mission to get informed. One size doesn’t fit all. So, put on your researching hat and find a loan program for military personnel that will best suit your financial situation.