Yes, many states and local governments offer down payment assistance programs in the form of grants, low-interest loans, or forgivable loans to help first-time buyers afford a home.

Your affordability depends on your income, monthly debts, and down payment amount. Lenders typically follow the 28/36 rule, meaning your monthly mortgage payment shouldn’t exceed 28% of your gross income, and total debt payments shouldn’t exceed 36%.

The first step is getting pre-approved for a mortgage. A lender will review your finances and tell you how much you can borrow, which helps you focus on homes in your price range. In competitive areas like Powell, Dublin, or Hilliard, sellers take pre-approved buyers more seriously.

Pre-qualification is a quick estimate based on basic information. Pre-approval is a full review with documents like pay stubs and credit reports. Pre-approval carries more weight with sellers in today’s market.

On average, it takes 30–60 days once you’re under contract. The timeline depends on your lender, home inspections, and negotiations.

Closing costs usually run 2%–5% of the purchase price. In Central Ohio, that can mean $5,000–$12,000 depending on the home. These cover fees like appraisal, title insurance, and loan processing.