The Federal Home Loan Bank has established a set-aside of Affordable Housing Program funds to help create homeownership though a program called WELCOME HOME.
WELCOME HOME GRANT funds are limited to $5,000 per household.
Due to the demand, these funds go quickly and can only be reserved on a “first-come, first-served” basis.
In order to receive Welcome Home funding, homebuyers must meet all of the requirements as set forth by The Federal Home Loan Bank of Cincinnati.
Homebuyer eligibility and funding has household income limitations and is adjusted by the number of people residing in the home.
Homebuyers must contribute at least $500 of their own funds towards down payment and closing costs (60% of these funds may be received as a gift).
First-time homebuyers must complete a homebuyer counseling program
Welcome Home is not intended for purchases requiring significant repair or Rehabilitation Retention Requirements
Reserve your $5,000.00 now!
Funds are only available for a limited time
and reserved on a FIRST COME –FIRST SERVED basis.
Funds can be used with many different loan programs.
Funds can be used for down payment, closing costs and other transaction costs.
There is qualifying criteria, please contact our Mortgage Consultants for more details.