FHA Loan Ohio | Extreme Loans

Buying or refinancing a home in Columbus, Cleveland, Cincinnati, Akron, or Toledo? Extreme Loans makes FHA financing in Ohio fast, honest, and easy. Our licensed Ohio mortgage bankers are ready to close your loan in as few as 14 days.

What Is an FHA Loan?

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It is one of the most accessible home loan programs in Ohio, designed to help buyers with moderate credit scores or limited savings secure financing with a low down payment.

  • Down payment as low as 3.5% with a 580+ credit score
  • Down payment of 10% available with credit scores as low as 500
  • Seller concessions allowed up to 6% of purchase price
  • Gift funds accepted for down payment and closing costs
  • Available for purchase and refinance transactions

Who Qualifies for an FHA Loan in Ohio?

FHA loans are a great fit for Ohio buyers and homeowners who:

  • Have a credit score of 500 or higher
  • Have a debt-to-income (DTI) ratio up to 57% in some cases
  • Are purchasing a primary residence
  • Are first-time homebuyers or repeat buyers
  • Have had past credit challenges such as bankruptcies or foreclosures (with sufficient seasoning)

FHA Loan Requirements

  • Credit Score: Minimum 500 (580+ preferred for 3.5% down)
  • Down Payment: 3.5%–10% depending on credit score
  • Mortgage Insurance: Upfront MIP of 1.75% + annual MIP (0.55%–1.05%)
  • Loan Limits (2024): $498,257 for most Ohio counties; higher in certain areas
  • Property Type: Must be primary residence; 1–4 units, condos (FHA-approved), manufactured homes
  • Appraisal: FHA appraisal required to confirm value and property condition

Ohio-Specific Details

Ohio is one of the most affordable housing markets in the Midwest, making FHA loans a popular choice for buyers throughout the state. Whether you’re purchasing a home in the Columbus metro, the Greater Cleveland area, the Cincinnati tri-state region, Akron, or Toledo, FHA financing can help you get into a home with minimal upfront costs.

Ohio also offers down payment assistance programs through the Ohio Housing Finance Agency (OHFA), including grants and forgivable second mortgages that pair well with FHA loans. Extreme Loans can help you explore all available options to minimize your out-of-pocket costs at closing.

Extreme Loans is licensed in Ohio under NMLS #RM.804925.000 and our mortgage bankers are experienced with Ohio-specific guidelines, county loan limits, and local market nuances.

Why Choose Extreme Loans for Your Ohio FHA Loan?

  • Extremely Fast: Average closing in 14 days — our phone number says it all: 844-CLOSE-FAST
  • Extremely Honest: We explain every fee, rate, and option in plain language — no surprises
  • Extremely Easy: In-house processing and underwriting means fewer delays and one streamlined experience
  • Over 1,600 Google reviews from borrowers across the country
  • Licensed in 33 states including Ohio (NMLS #RM.804925.000)
  • Access to FHA, VA, conventional, jumbo, and non-QM loan programs

FHA Streamline Refinance in Ohio

Already have an FHA loan on your Ohio home? The FHA Streamline Refinance can lower your rate and monthly payment with minimal documentation — no appraisal required in most cases.

  • No income verification required
  • No appraisal in most cases
  • Reduced MIP for loans originated prior to June 2009
  • Must be current on your existing FHA loan with a good payment history

Contact Extreme Loans to see if you qualify for a streamline refinance today.

Frequently Asked Questions — FHA Loans in Ohio

What is the minimum credit score for an FHA loan in Ohio?

The FHA minimum is 500. At Extreme Loans, we work with credit scores starting at 550 for most programs. A score of 580 or higher qualifies you for the 3.5% down payment option.

What are the FHA loan limits in Ohio for 2024?

The standard FHA loan limit for most Ohio counties in 2024 is $498,257 for a single-family home. Some higher-cost counties may have slightly higher limits. Our team can confirm the exact limit for your county.

Can I use down payment assistance with an FHA loan in Ohio?

Yes. Ohio Housing Finance Agency (OHFA) and other programs offer grants and second mortgages that can be layered with your FHA loan to reduce or eliminate your out-of-pocket costs. Ask your Extreme Mortgage Banker for details.

How long does it take to close an FHA loan with Extreme Loans?

Our average is 14 days from application to closing. FHA loans can take longer at some lenders due to appraisal timelines, but our in-house processing keeps things moving fast.

Does Extreme Loans lend in all Ohio counties?

Yes. We are licensed statewide in Ohio (NMLS #RM.804925.000) and can originate FHA loans in Columbus, Cleveland, Cincinnati, Akron, Toledo, Dayton, and all other Ohio counties.

Is mortgage insurance required on an FHA loan?

Yes. FHA loans require an upfront mortgage insurance premium (MIP) of 1.75% of the loan amount, plus an annual MIP paid monthly. The annual rate varies based on your loan term and down payment amount.

Ready to Get Your Ohio FHA Loan?

Extremely Honest. Extremely Fast. Extremely Easy. Let’s get started.

Apply Now Call 844-CLOSE-FAST

Also see: FHA Loan Michigan | VA Loan Michigan

Extreme Loans | NMLS #RM.804925.000 | 29444 Northwestern Hwy. Ste. 100, Southfield, MI 48034 | Equal Housing Lender