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Welcome Home Program

 

The Federal Home Loan Bank of Cincinnati has established a set-aside of Affordable Housing Program funds to help create home ownership through a program called the Welcome Home Program. These funds are available to members as grants to assist home buyers.

 

***APPLICANTS DO NOT HAVE TO BE FIRST TIME HOME BUYERS***

 

$25,000 limit to honorably discharged veterans or active duty military

$20,000 limit to all other homebuyers

 

HOMEBUYER ELIGIBILITY:

Household Income limits apply. Please see below:

 

Butler County:                                                                         Warren County:

$62,880 for 1-2 Persons                                                          $69,320 for 1-2 Persons

$73,136 for 3+ Persons                                                           $79,718 for 3+ Persons

 

 

1. Home buyer MUST contribute at least $500 of their own funds into the transaction.  This can be earnest money, appraisal payment up front, closing costs, prepaids, etc.
2. If a First Time Home buyer – Home ownership counseling is required and proof of completion must be submitted.
3. FHLB considers “First Time Home buyers” to be home buyers that have not owned a home in the last 3 years. 
4. 5 year retention period.  Verbiage is included in the deed.
5. Cash back is not permitted