Homebuyers who receive financial assistance from OHFA to help purchase a primary residence will have a lien in the amount of that assistance placed on the property. The lien is referred to as a Silent 2nd because there is no interest or fees associated with the amount. OHFA expects the repayment of the 2nd lien when these things occur:
- Your first mortgage loan reaches maturity or is paid off
- You refinance the home
- You leave the home as your primary residence otherwise change ownership.