Ohio is seeking to keep more natives in the Buckeye State after college with a new program that lightens the load for home-buying graduates.
The Ohio Housing Finance Agency on Monday opened up the Grants for Grads program, an initiative that gives any graduate of an Ohio high school a 2.5 percent break on the purchase price of a home within 18 months of graduating from college. Grads don’t receive the full benefit of the break, which helps with down-payment and closing costs, unless they stay in the house for at least five years.
The Ohio Housing Finance Agency on Monday opened up the Grants for Grads program, an initiative that gives any graduate of an Ohio high school a 2.5 percent break on the purchase price of a home within 18 months of graduating from college. Grads don’t receive the full benefit of the break, which helps with down-payment and closing costs, unless they stay in the house for at least five years.
The program got a final legislative OK as a part of the two-year budget Gov. Ted Strickland signed in July. Erin Biehl, a spokeswoman for the agency, said $1 million initially has been set aside for the program but officials hope it will eventually become self-sustaining.
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