Ohio Housing Finance Agency reports $1.3 billion in home loans, outlines FY25 goals to Senate housing committee

Bill Beagle, executive director of the Ohio Housing Finance Agency, told the Ohio Senate Housing Committee on an annual report presentation that the agency financed more than $1.3 billion in home loans in fiscal year 2025, up from $813 million the prior year, and allocated $1.2 billion toward the creation or preservation of 8,183 affordable rental units.

Beagle opened his testimony by summarizing the agency's mission and vision: "Our mission is to use federal and state resources to finance housing opportunities for low and moderate income Ohioans through programs that develop, preserve, and sustain affordable housing throughout the state," and its vision to "create an Ohio where everyone has a safe, decent, affordable place to call home." He said the agency submitted its annual plan (approved June 2024) and the backward-looking annual report (published 09/30/2025) to the governor and legislative leaders and was providing testimony at the committee's request.

The nut graf: The Ohio Housing Finance Agency (OFA) said its mortgage and rental housing programs expanded in FY25, with increased loan volume and tax-credit allocations that the agency says will expand homeownership and add or preserve thousands of affordable rental units across Ohio. OFA also described program changes and near-term work to increase transparency, stakeholder engagement and data sharing with the Ohio Department of Development.

Most important details: OFA reported more than $1.3 billion in home loans in FY25 (median buyer age 30; median household income $71,700; average FICO score 722). To preserve the agency's ability to assist more buyers after the surge in originations, Beagle said the agency adjusted its down payment assistance program effective July 21, 2025: down payment assistance was set to 3% for conventional loans and 3.5% for government loans (replacing prior 2.5% or 5% options).

On rental housing, OFA said it allocated $1.2 billion for the creation or preservation of 8,183 affordable housing units through its 4% and 9% Low-Income Housing Tax Credit (LIHTC) programs and related funding sources. Beagle said the state low-income housing tax credit program authorized in 2023 was used in 13 developments that together account for 987 of the units funded. Applications for Ohio LIHTC rose from 21 in FY24 to 36 in FY25, with dollars requested increasing from about $189 million to about $312 million; OFA funded 11 applications in 2024 and 13 in 2025, roughly one-third of applicants in each year, Beagle said.

Beagle described how OFA combines federal and state resources into development capital stacks and supplements LIHTC deals with Ohio Housing Trust Fund dollars for rural projects that struggle to cash-flow. He summarized other programs administered by OFA, including the Housing Development Assistance Program (HDAP), HOME, the National Housing Trust Fund, multifamily bonds, and the housing development loan program administered in conjunction with the Ohio Department of Commerce.

Tenant and compliance facts: OFA reported that renters in OFA-funded developments have a median age of 32, a median household income of $13,800 and a median monthly rent of $875. OFA's compliance team conducted 406 physical inspections and 340 file reviews in FY25, and the agency operates a help desk residents and property managers can use for unresolved maintenance or compliance issues.

Innovation and program design: Committee members asked about scoring, stakeholder input and nontraditional housing types. Beagle described a commitment to greater transparency and stakeholder engagement around allocation scoring and qualified allocation plans, and said OFA is forming a board committee to examine alternative building methods such as modular or manufactured housing. He cited an awarded Franklin County project that uses on-site modular construction through a developer identified in testimony as Connect Realty and noted a Dayton pilot with a builder called Unibuild as examples where OFA has supported alternative methods.

Beagle cautioned that OFA must balance innovation with long-term durability and federal rules (for example, issues around titles and foundations for manufactured housing) and said the board is "supportive of looking at alternative building methods" while emphasizing quality and longevity of the housing stock.

Data and equity questions: In response to questions about racial disparities in homeownership and whether the gap is narrowing, Beagle said OFA conducts an annual housing needs assessment (led by the agency's data team) and that the assessment shows African American homeownership is increasing in Ohio, though a gap remains. He told the committee OFA is exchanging data with the Ohio Department of Development and expects to have a draft dashboard before year'end to track trends more frequently than annual reports.

Other committee business: The committee held an opponent and interested-party hearing for Senate Bill 250 ("Promised Land Act") and recorded no interested parties or opponents at that hearing. Earlier in the meeting Senator Timken moved to favorably report the governor's appointments to the Ohio Housing Finance Agency and the Ohio Housing Trust Fund; the chair indicated the appointments were approved.

Ending: Beagle closed by reiterating OFA's willingness to work with stakeholders and legislators on scoring, innovation and data-sharing; the agency offered to provide its housing needs assessment and return to the committee to present the planned dashboard when available.