Ohio's Welcome Home Program

February 19, 2018



It’s overwhelming to think about saving 20% as a prerequisite for purchasing a new home. At times it seems like you need to win the lottery to come up with the down payment money; however, this spring, Ohio residents who are in the market for a new home may be eligible to receive assistance from Ohio’s annual Welcome Home Program.


Many homebuyers aren’t aware of the plethora of financing options available to them, and often overlook grants and loans because they assume most are only for first-time home buyers. Luckily, there are a number of options, including the Welcome Home Program, that are available to those who have already owned real estate in the past.


Program Details:

  • Beginning on March 1st, the Federal Home Loan Bank (FHLB) of Cincinnati will provide down payment and closing cost assistance to low- and moderate-income home buyers on a first-come, first-served basis.

  • Qualified home buyers can receive up to $5,000 in funds per home as long as the homeowner contributes at least $500 of their own money toward their down payment or closing costs (60% of the $500 may be a gift). These funds are available to member banks as grants and will continue until they run out. There is no purchase price limitation.

  • The recipients of the funds must complete a homeownership counseling program and remain in the home for 5 years, or repayments of the grant will be required.

  • The homeowners’ household income must not exceed 80% of Mortgage Revenue Bond (MRB) income limits for their county.

    • Auglaize County

      • 1-2 Persons: $53,520

      • 3+ Persons: $61,548

    • Mercer County

      • 1-2 Persons: $54,800

      • 3+ Persons: $63,020

  • Our local member banks are Minster Bank, First Federal Bank, Superior Credit Union, and Mercer Savings Bank.

To see if you qualify, visit a local member bank to speak with a loan officer.


Looking to find your perfect home? Contact the Home Fitter Brenda Klein today to put your home owning goals within reach. 


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