On an OHFA Loan, FHA Asks for More Than Conventional
Program and regulatory figures verified September 25, 2026. Details change; confirm your scenario with us.
Most buyers assume FHA is the forgiving option on credit. On an OHFA loan it is the demanding one, and the gap changes which loan type you should be looking at.
The matrix
From the OHFA Conventional Program Guidelines and OHFA Government Program Guidelines, July 2026.
| Loan type | Minimum score | Maximum DTI |
|---|---|---|
| FHA | 650 | 45% at 650 to 679; 50% at 680 and above |
| VA | 640 | 45% at 640 to 659; 50% at 660 and above |
| USDA-RD | 640 | 45% at 640 to 659; 50% at 660 and above |
| Conventional, Fannie Mae HFA Preferred / Freddie Mac HFA Advantage | 640 | 50% |
| Manufactured, FHA / VA / USDA | 660 | 45% |
| Standard and MH Advantage manufactured | 660 | 45% |
| 3 to 4 unit | 640 to 679 at 45%; 680 and above at 50% | per Fannie Mae and Freddie Mac |
The inversion worth acting on
A buyer with a 645 score has a problem on FHA and no problem at all on conventional, VA or USDA under OHFA's rules. That is backwards from the usual advice, where FHA is the route for thinner credit.
It matters most in the 640 to 649 range, where FHA is simply unavailable on an OHFA loan while the other three types are open. And it matters again at 660 to 679, where VA and USDA have already reached the 50% DTI tier but FHA is still capped at 45%.
| Score | FHA | VA / USDA | Conventional |
|---|---|---|---|
| 640 to 649 | Not available | 45% | 50% |
| 650 to 659 | 45% | 45% | 50% |
| 660 to 679 | 45% | 50% | 50% |
| 680 and above | 50% | 50% | 50% |
Conventional through HFA Preferred or HFA Advantage reaches 50% from a 640 score with no intermediate tier at all, which makes it the most permissive line in the table on debt ratios.
Leverage
Maximum loan-to-value and combined loan-to-value, the second figure including the assistance second:
- FHA: 96.5% / 105%
- VA: 103.3% / 108.3%
- USDA-RD: 103.5% / 108.5%
- Fannie Mae HFA Preferred: 97% / 105% on one unit and MH Advantage; 95% / 105% on 2 to 4 units and standard manufactured
- Freddie Mac HFA Advantage: 97% / 105% on one unit; 95% / 105% on 2 to 4 units; 95% / 95% on manufactured
- With a non-occupant co-signer: 95% / 105% on both conventional products
Note the Freddie Mac manufactured line, where the combined figure does not exceed the first at all. Property rules.
Manual underwriting
Where a file cannot go through automated underwriting, OHFA's conditions tighten considerably: not allowed on manufactured homes, one to two unit properties only, maximum ratios of 31% / 43% on FHA, 41% on VA and 29% / 41% on USDA, and two months of PITIA reserves.
Those ratios are well below the automated ceilings, so a manual file is a materially different conversation.
Other loan terms
OHFA offers 30-year fixed-rate, fully amortizing purchase mortgages only. Refinance loans are not permitted under the purchase programs. Discount points are not permitted and escrow waivers are not permitted. Conventional loans are limited to Fannie Mae HFA Preferred and Freddie Mac HFA Advantage; standard HomeReady and Home Possible are not available.
Rate locks run up to 70 calendar days from reservation. We do not publish rates here; OHFA posts them daily.
See also the full eligibility test and the programs.
Frequently asked questions
What credit score do you need for OHFA down payment assistance?
650 for FHA, and 640 for VA, USDA-RD and conventional loans through Fannie Mae HFA Preferred or Freddie Mac HFA Advantage. Manufactured housing requires 660 on both government and conventional loans. FHA requiring a higher minimum than the other loan types inverts the usual expectation, and means a borrower in the 640 to 649 range can use conventional, VA or USDA but not FHA.
What is the maximum DTI on an OHFA loan?
50%, but the score needed to reach it varies by loan type. On FHA the maximum is 45% from 650 to 679 and 50% at 680 and above. On VA and USDA-RD it is 45% from 640 to 659 and 50% at 660 and above. On conventional loans through Fannie Mae HFA Preferred or Freddie Mac HFA Advantage the maximum is 50% from a 640 score, with no intermediate tier.
Why does FHA need a higher score than conventional on OHFA loans?
It is how OHFA sets its own overlays. The published matrix puts FHA at a 650 minimum while VA, USDA-RD and conventional sit at 640. The practical effect is that a borrower with a score in the 640s can use a conventional HFA Preferred or HFA Advantage loan, or VA or USDA if otherwise eligible, but cannot use FHA on an OHFA loan at all.
What are the manual underwrite limits for OHFA?
Manual underwrites are not allowed on manufactured homes and are limited to one to two unit properties. Maximum ratios are 31% front and 43% back on FHA, 41% on VA, and 29% front and 41% back on USDA, with two months of PITIA reserves required. Those ceilings are substantially below the automated underwriting maximums of 45% to 50%.
What is the maximum loan-to-value with OHFA assistance?
It depends on loan type, with the combined figure including the assistance second. FHA is 96.5% LTV and 105% CLTV, VA is 103.3% and 108.3%, USDA-RD is 103.5% and 108.5%. Conventional Fannie Mae HFA Preferred and Freddie Mac HFA Advantage are 97% and 105% on one unit, dropping to 95% and 105% on two to four units. With a non-occupant co-signer both conventional products cap at 95% and 105%.
Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Cornerstone First Mortgage is a participating lender in the Ohio Housing Finance Agency's programs. The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry. Please visit www.ohiohome.org for more information. Educational content about financing, not a loan commitment and not legal or tax advice. OHFA program terms and limits are set by the Ohio Housing Finance Agency and change; figures here carry the date we verified them. Loans are subject to borrower and property qualification.