New Report Details Affordable Housing Trends In Ohio

Posted by Orb Staff on July 12, 2010 No Comments
Categories : Residential Mortgage

fice of Affordable Housing Research (OAHR), a new partnership created by the Ohio Housing Finance Agency (OHFA) and Ohio State University's John Glenn School of Public Affairs, has released ‘Closing the Gap: Minority Low-Moderate Income First-Time Homebuyers and Neighborhoods,’ a report which examines Ohio's affordable homeownership program to further understand mobility patterns and neighborhood quality of low-income non-minority and minority homebuyers. ‘Closing the Gap’ presents analyses of statewide data from OHFA's First-Time Homebuyer Program nested with data from the Home Mortgage Disclosure Act and the U.S. Census. The report determined that nearly one in five households purchasing their first home through OHFA's First-Time Homebuyer Program were minority borrowers, compared with approximately one in ten overall home purchases in Ohio last year, suggesting considerable progress towards closing the gap. The report also highlights the geographical representation of OHFA's mortgage products and the mobility patterns of low-to moderate-income households as they enter homeownership for the first time, identifying areas for future opportunities to reach out to underserved populations with affordable mortgages. ‘This research from the John Glenn School of Public Affairs, and all research from OAHR will provide OHFA and our partners with the qualitative data we need to enhance our outreach of affordable mortgage programs to underserved neighborhoods,’ says Doug Garver, OHFA executive director. The complete study is available [link=http://www.ohiohome.org/oahr/index.aspx]online[/link]. SOURCE:

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