Welcome Home Program
- 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. (60% of these funds or $300 can be received as a gift)
- If a First Time Home buyer – Home ownership counseling is required and proof of completion must be submitted.
- FHLB considers “First Time Home buyers” to be home buyers that have not owned a home in the last 3 years.
- 5 year retention period. Verbiage is included in the deed.
- Cash back is not permitted
- $7,500 limit to honorably discharged veterans or active duty military
- $5,000 limit to all other homebuyers
Household Income limits apply. Please see below:
- $61,120 for 1-2 Persons
- $70,224 for 3+ Persons
- $50,160 for 1-2 Persons
- $57,684 for 3+ Persons