FHA Loans
in Ohio

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If you are searching for a way to keep your down payment low while purchasing a home in Ohio, one type of mortgage worth considering is an FHA loan.

FHA loans are focused primarily on serving the needs of first time homebuyers, but you also may be eligible for FHA financing as a repeat homebuyer.

What is an FHA Loan?

An FHA loan is insured by the Federal Housing Administration (FHA). This backing helps to offset risky factors in your borrowing profile, qualifying you for more competitive financing.

Benefits of FHA Loans in Ohio

Here are a few of the reasons why first time and repeat homebuyers choose FHA loans:

FHA loans have low down payments. If your credit score is 580 or higher, your down payment could be 3.5%.

Credit requirements in general are more flexible for FHA financing than they are for some other types of home loans. The same is true for debt-to-income ratio.

With an FHA loan, affordable fixed or adjustable mortgage rates are available.

Closing costs may be low, or may be covered by the seller.

While FHA loans are most often used for home purchase, FHA financing for upgrades, repairs and refinancing are available as well.

Do You Qualify for an Ohio FHA
Mortgage?

The FHA created this loan program to be as easy to qualify for as possible. Here are the eligibility requirements for an FHA loan in Ohio:

As mentioned above, you will need a credit score of at least 580 for 3.5% down.

Your credit score will need to be at least 500 to qualify for 10% down.

A debt-to-income ratio of 43%-45% is ideal.

You need to have been employed continuously for at least two years prior to applying for an FHA loan.

When you apply for FHA financing, the lender will check your credit alert interactive voice response system (CAIVRS) report to make sure your record is clear.

You can only use an FHA loan to purchase, repair or refinance a primary residence. For a second home, you will need to pick a different type of loan product.

It is not necessary to be a first time homebuyer.

You may still be eligible for an FHA mortgage with a bankruptcy or foreclosure on your record.

What Our Clients Are Saying

Bobbi Jo Cea
Bobbi Jo Cea
13:56 15 Aug 19
it's been a few years since I bought real Estate. I can tell though James and his team at Liberty Capital were amazing during the process. They were able to find the product to get my deal done, a rehab loan is a little different. Their team made my dream home a reality!read more
Bobbi Jo Cea
Bobbi Jo Cea
13:56 15 Aug 19
it's been a few years since I bought real Estate. I can tell though James and his team at Liberty Capital were amazing during the process. They were able to find the product to get my deal done, a rehab loan is a little different. Their team made my dream home a reality!read more
Jeff Musi
Jeff Musi
16:07 14 Aug 19
Used Liberty Capital for a refinance and was pleased with the ease of getting it done. Everything went smoothly and their automated system was very efficient for information transfer. James and his team did an outstanding job! If you are getting a loan or refinance, I strongly suggest that you contact this team.read more
Jared Kenyon
Jared Kenyon
15:21 14 Aug 19
James is the ultimate professional and was able to make a very stressful process very smooth. He has a unique ability to look at all scenarios in a unique way so that you get the best deal possible. I would definitely recommend James McBain to any friends or family who are looking to purchase or refinance a home.read more
Brian Ramey
Brian Ramey
00:36 21 Jun 19
This is the second time we have worked with James getting financing for a home purchase. He has been amazing to work with both times. He is extremely knowledgeable, responds quickly and just someone you know you can trust- which is extremely important when making such a large purchase. I would recommend James to anyone!read more
Marc s
Marc s
16:33 29 May 19
Ken, James and the whole team at liberty loans are the only people I would ever recommend for a home loan or refi! To put it simply, they just know how to get the deal closed!
Stefanie Villasante
Stefanie Villasante
14:30 29 May 19
Liberty Capitol was great to work with. Ken, James, and ESPECIALLY Laura all made the closing process so smooth and easy. If I needed anything they were an email, phone call, or text away. They kept costs low for me, and saved me money on my closing. If I ever buy another house, I wouldn't hesitate to use them again. Great team, nice people!read more
Lani Ciera
Lani Ciera
13:39 22 May 19
My husband and I just closed on our first home yesterday and we couldn't have done it without James and his amazing team at Liberty Capital Services! James actively worked with us throughout the entire process; helped us to improve our credit, didn't pressure us or make us fear for this huge purchase, and made the entire process enjoyable and stress free! He and his team are amazing and truly care about their clients. Thank you Liberty Capital!read more
Ian Mcmahan
Ian Mcmahan
11:17 22 May 19
If you are thinking of buying or refinancing your new home, well look no further! James from Liberty Capital made our first home buying process effortless and stress free. He and his team were absolutely amazing and we were lucky enough to have worked with them!read more
Alexandra Tran
Alexandra Tran
20:00 22 Apr 19
I had a great experience with Liberty Capital. They made the process extremely easy and I was able to close sooner than expected. They really made the process seamless and I recommend them to anyone looking to buy a home!read more
Robert Moore
Robert Moore
19:42 22 Apr 19
I strongly recommend Liberty Capital. They were straightforward and were extremely FAST and HELPFUL with the entire process. I highly recommend Liberty Capital they were consummate professionals during the mortgage process.read more
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Apply Now for an FHA Mortgage in Ohio

If you want affordable interest rates, a down payment as low as 3.5%, and flexible qualification criteria for your mortgage in Ohio, California or Florida, please call us today at (614) 505-0620. We look forward to discussing your needs at your Ohio FHA home loan consultation.

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