From OHIO DEPARTMENT OF COMMERCE
With National Homeownership Month observed in June, which traditionally marks a period of peak home-buying activity, the Ohio Department of Commerce Divisions of Real Estate & Professional Licensing (REPL) and Financial Institutions (DFI) are advising Ohioans to be mindful of common mistakes that can complicate the home-buying process, cause financial setbacks, or delay approvals.
In the fourth quarter of 2025, the homeownership rate in Ohio hit an 18-year-high of 72.1%. With more Ohioans making the decision to purchase a home, commerce is calling attention to the importance of aspiring homeowners – especially those unfamiliar with the real estate process – to work with trained professionals. This helps to ensure prospective homebuyers fully understand the mortgage application process, including the responsibility to complete paperwork thoroughly and accurately.
Providing incorrect or incomplete information on a mortgage application can delay approvals, increase financial risk, or raise red flags that expose borrowers to legal or financial consequences. Division of Real Estate and Professional Licensing Superintendent Daphne Hawk says exercising care and transparency throughout the application process supports a clear and efficient path to securing a home loan.
“Homeownership is the largest single investment most Ohio families will ever make, so this is a process that should be taken seriously and with a great deal of planning and care,” Hawk said. “It’s important that the home-buying process remains equitable and transparent for everyone who aspires to become a homeowner, which is why one of our key goals is to help consumers make informed decisions and feel protected throughout the process.”
Ohioans who are unfamiliar with the real estate transaction process are encouraged to work with trained and licensed professionals to ensure the home-buying process is done safely and properly. Commerce’s Division of Real Estate and Professional Licensing licenses professionals such as salespeople and brokers to ensure full compliance with state and federal laws. They also can help ensure prospective buyers are properly qualified, homeowners receive informed guidance, and transactions are handled ethically and inclusively.
Ohioans are encouraged to access the Division of Real Estate and Professional Licensing’s updated homebuyers guide, which is specially designed to support individuals as they prepare for a big financial decision. The guide, which is available at com.ohio.gov/Homebuyersguide, walks readers through key steps in the home-buying journey, from evaluating financing options to selecting qualified real estate professionals, using clear explanations and practical tips.
Ohioans can also reach out to the Ohio Housing Finance Agency for down payment assistance and other loan products to make buying a home more affordable. The agency offers competitive 30-year, fixed-rate conventional, FHA, VA, and USDA-RD government loans with generous income and purchase price limits, designed especially for homebuyers with low- and moderate-incomes. Ohioans can visit www.myohiohome.org for information on programs available and to find participating lenders in their areas.
Commerce’s Division of Financial Institutions is a protector in Ohio’s mortgage landscape. The division licenses 2,923 mortgage companies that employ over 22,000 licensed individual mortgage loan originators, ensuring they follow state laws. This helps to keep the lending process safe and trustworthy for Ohio consumers. Ohioans can verify a mortgage lender’s license anytime through the division’s online lookup tool.
“As consumers explore homeownership or refinancing options, working with a licensed mortgage professional helps ensure the process is clear and responsible,” said Ingrid White, interim superintendent of the Division of Financial Institutions. “Families deserve confidence that the lender they’re working with meets Ohio’s standards and is operating with their best interests in mind.”
It is also important to budget for all homeownership costs. Beyond the purchase price, prospective homebuyers should take care to ensure they account for property taxes, insurance, maintenance, utility changes, and potential repairs. Underestimating these costs can strain household finances and lead to unexpected challenges.
Consumers also play a role in keeping the lending landscape safe by reporting concerts to the DFI Office of Consumer Affairs.
