Ohio Is Running a Mortgage Rate Sale — And Most Buyers Don't Know About It

OHFA has announced below-market rates as low as 3.75% for eligible Ohio homebuyers — starting today. Here's what Springfield and Dayton buyers need to know.

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When the Ohio Housing Finance Agency (OHFA) runs a rate sale, it matters — especially right now. With conventional 30-year mortgage rates hovering around 6.25–6.50% across Ohio, OHFA's limited-time Traditional First-Time Homebuyer Program is currently offering rates as low as 3.750% on FHA, VA, USDA-RD, and Conventional 30-year fixed loans. That's not a typo. That's a real, state-backed program available to qualifying Ohio buyers — and it went live this morning.

At The Haney Group — serving Springfield, Dayton, and the surrounding Miami Valley — we've helped buyers navigate OHFA programs for years. We can tell you: opportunities like this don't last long. Rates update daily, and once bond funds are committed, the sale pricing is gone. If you've been sitting on the sideline waiting for rates to come down, this is your window.

This post breaks down exactly what's available, who qualifies, how the numbers compare, and what your next move should be.

What Is the OHFA Rate Sale?

The Ohio Housing Finance Agency is a state-chartered agency that issues tax-exempt mortgage revenue bonds to fund below-market mortgage rates for Ohio homebuyers. When bond market conditions are favorable, OHFA can offer what is essentially a "rate sale" — temporarily pricing their bond-funded loans significantly below the conventional market.

Effective as of June 1, 2026 (updated this morning at 9:30 AM), OHFA's Traditional First-Time Homebuyer Program is offering:

Loan Type	No OHFA Assistance	Ohio Heroes	Grants for Grads
FHA, VA, USDA-RD 30-Yr Fixed	3.750%	3.500%	N/A
With 3.5% OHFA Down Payment Assistance	5.000%	4.750%	4.875%
Conventional 30-Yr Fixed	3.750%	3.500%	N/A
With 3% OHFA Down Payment Assistance	5.000%	4.750%	4.875%

Sources: OHFA Mortgage Rates (Updated 6/1/26) · Zillow Ohio Mortgage Rates

By comparison, the conventional Ohio market rate as of late May 2026 sits at approximately 6.25% for a 30-year fixed loan. That's a spread of roughly 2.5 percentage points — one of the largest gaps we've seen between OHFA's bond-funded program and the open market in recent memory.

💡 Haney Group Insight

OHFA rates are published each business day at 9:30 AM and are subject to change. "Limited-time" is not a marketing phrase here — it literally means when the bond allocation is exhausted, the sale pricing ends. Buyers who act within the next few weeks have the best shot at locking in these rates. We can help you get connected with an OHFA-approved lender immediately. Contact us today.

What This Means in Real Dollars for Springfield & Dayton Buyers

Numbers tell the real story. Let's compare what a typical home purchase looks like in our markets at the OHFA sale rate versus the current market rate. We'll use a $185,000 home — a realistic purchase price for Springfield/Clark County — and a $250,000 home common in the Dayton area, both with a 5% down payment.

Scenario	Loan Amount	Rate	Est. Monthly P&I
Springfield — OHFA Sale Rate	$175,750	3.750%	~$814/mo
Springfield — Market Rate	$175,750	6.25%	~$1,082/mo
Dayton — OHFA Sale Rate	$237,500	3.750%	~$1,100/mo
Dayton — Market Rate	$237,500	6.25%	~$1,462/mo

Estimates based on 30-year fixed-rate loan, principal & interest only. Taxes, insurance, and PMI not included. Sources: OHFA Rate Sheet 6/1/26 · Bankrate Ohio Mortgage Rates

A Springfield buyer using the OHFA sale rate could save roughly $268 per month compared to a standard market rate loan — or over $96,000 across a 30-year mortgage. For a Dayton buyer, that savings exceeds $360 per month. These are life-changing numbers for a household budget.

Who Qualifies for the OHFA Rate Sale?

OHFA's Traditional First-Time Homebuyer Program has specific eligibility requirements. The good news: "first-time buyer" doesn't always mean what you think it does.

Requirement	Details
First-Time Buyer Status	Must not have owned a primary residence in the past 3 years. Exceptions apply in OHFA target areas.
Credit Score	640+ for Conventional, VA, USDA; 650+ for FHA
Income & Purchase Price Limits	Must meet county-specific income and purchase price caps (target and non-target limits apply)
Homebuyer Education	Required — available as an easy online module
Property Type	Primary residence; maximum 2 acres (5 acres in rural areas)
Lender	Must use an OHFA-participating lender

Sources: MyOhioHome.org · Bankrate OHFA Guide

Ohio Heroes: An Even Lower Rate for Those Who Serve

If you work in a qualifying profession, OHFA's Ohio Heroes program shaves another quarter-point off the already-reduced rate — bringing eligible buyers to just 3.500% on FHA, VA, and USDA-RD loans. This applies to both first-time and repeat buyers who meet income and purchase price limits.

✅ Ohio Heroes Eligible Professions • Police officers & firefighters (volunteers included) • EMTs & paramedics • Physicians, nurses & STNAs • Teachers, school administrators & counselors (PreK–12) • Active military, reserves, veterans & surviving spouses

⚠️ Keep in Mind • Income limits still apply • Must use an OHFA-participating lender • Homebuyer education is required • Rates change daily — lock quickly • Adding DPA raises your rate (see table above)

Springfield and Dayton are home to a significant number of educators, first responders, healthcare workers, and veterans. If you or someone you know falls into one of these categories, the Ohio Heroes rate combined with OHFA's current sale pricing represents one of the most compelling mortgage opportunities available in Ohio today.

💡 Haney Group Insight

One question we get a lot: "Can I add down payment assistance and still get the sale rate?" The short answer is: adding OHFA's DPA does increase your interest rate — from 3.75% to 5.00% — because the DPA is funded from the same bond pool. For buyers who have their own down payment funds, taking the 3.75% rate without DPA is often the better long-term value. We can run the numbers for your specific situation. Reach out to our team to compare options.

Why This Matters Right Now in Springfield & Dayton

Ohio home prices have held steady even as national markets have cooled. Springfield and Clark County continue to offer some of the most affordable entry-level and move-up inventory in the state, while Dayton and Montgomery County have seen sustained demand — particularly for homes in the $175,000–$300,000 range.

The challenge for buyers over the past two years has been affordability — not price, but monthly payment. At 6.25%, a $200,000 loan costs roughly $1,231 per month in principal and interest. At 3.75%, that same loan drops to approximately $926 per month. That $305 difference is the margin between renting and owning for many families in our market.

Our team — Doug Haney, Lisa Ackerman, Brad Shuman, and Amanda Russell — works closely with OHFA-approved lenders throughout Clark and Montgomery counties. We can help you identify whether you qualify, refer you to the right lending partner, and connect your eligibility to active inventory in the market right now. Search available homes here.

Thinking about what your home is worth before making a move? Get a free home valuation from The Haney Group — no obligation, just clarity.

📘 Free Download: Complete Guide to Buying or Selling a Home in Ohio

Not sure if you're ready to make a move? Our free guide walks you through the entire buying and selling process — covering Springfield, Dayton, and Columbus markets — so you know exactly what to expect before you take the first step.

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Act Now — OHFA Rate Sales Don't Wait

We've been in this business long enough to know: when Ohio opens a window like this, it doesn't stay open long. OHFA's bond-funded programs are tied to finite capital allocations. When the funds are reserved, the sale rate is gone — and the next available rate reflects whatever the market is doing at that point.

If you're a first-time buyer — or someone who hasn't owned a home in the last three years — living or looking to buy in Springfield, Dayton, or the surrounding communities, we'd encourage you to reach out today. Not next week. Today. Our team can help you take the right first steps quickly and make sure you don't miss this opportunity.

Ready to Lock In Ohio's Best Mortgage Rate?

The Haney Group — Doug Haney, Lisa Ackerman, Brad Shuman, and Amanda Russell — is here to guide you every step of the way. Let's find your home before this rate sale ends.

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The Haney Group at Coldwell Banker Heritage · (937) 821-8103 · thehaneygroup.com