OFHA Rate Sale Coming Monday, June 1st

Our lending partners just alerted us to a memo from OFHA (Ohio Finance & Housing Administration) that on Monday, June 1st, 2026, potential home buyers in Ohio can expect a rate change in a good direction. Last year, when OFHA released its new program, a rate sale like this was utilized and it created a number of opportunities for potential homeowners to close on homes using lower than market interest rates.

What will the rates be? We will not know until Monday but the Home Connections Group at Home Central Realty is currently reaching out to our clients and alerting them to this news. With current interest rates hovering between 6.5-7%, a rate improvement to what we found as of 5/29/2026 could mean hundreds if not thousands of dollars lower per month and year for a new homeowner. 

A release from the agency said:

OHFA is having a rate sale!  Rates for first-time homebuyers will be well below market for a short period of time effective Monday, June 1, 2026.  The Agency has the opportunity to offer lower rates for first-time homebuyers for a limited time.  Please read OHFA’s definition of a first-time homebuyer in our guidelines found at the link below.* Once the resources have been exhausted rates will return to normal. Loans reserved prior to June 1, 2026 will not be eligible for the lower rate offered.  This opportunity will yield increased volume , therefore all parties should expect longer than normal loan processing times.  To accommodate the additional turnaround time, OHFA will extend expiration dates for loans to be purchased by its servicer from 70 days to 90 days to help eliminate extension fee burden. 

Couple things to remember about OFHA:

(1) any borrower utilizing financial assistance must attend a new homebuyer educational course from an approved site

(2) OFHA does charge an upfront fee as part of your closing costs. Closing costs may be higher because of that.

(3) A lender can help show you the exact criteria of any program you are interested in, including Ohio Heroes which does require you can prove your eligibility as a first responder or teacher. 

Think now is your opportunity? The Home Connections Group is ready to help assist you with buying. We have lenders standing by ready to help review and see if you qualify for this potential RATE SALE. Let's help get you SOLD.