Welcome Home Grants offered through the Federal Home Loan Bank of Cincinnati will become available March 1, 2017. This grant program will offer home buyers $5,000.00 that can be used towards their down payment and/or closing costs. The best part is that you do not have to be a first-time buyer to qualify! To qualify for the program, you must have income under the maximum income limits shown on the table below. The Welcome Home Funds available are limited and they are offered on a first come, first served basis. You must have your new home under contract to reserve your grant funds.
The Jason Bowman Team at RE/MAX Elite partners with several Greater Cincinnati Banks that are offering the Welcome Home Grant Funds. This has historically allowed our buyer clients to have longer access to the funds. If you are hoping to take advantage of the Welcome Home Grant, you need to start the process in February. It is imperative that you lock in by getting pre-approved and securing a contract on a home. Our Team is ready to help guide you through the process. Call or email today: 513-766-0647 or Jason@JJBowman.com
Maximum Income Limits for Ohio Counties - Welcome Home Grants
County 1-2 persons 3+ persons
Hamilton $56,560 $65,044
Brown $50,080 $57,592
Clermont $56,560 $65,044
Clinton $50,080 $57,592
Warren $56,560 $65,044
First Time Home Buyers are required to take a Home Buyer Education class. The requirement is simple to complete through online courses offered by MGIC. The course can be accessed online at https://homebuyers.mgic.com. Scroll down to STEP 1 of the section for purchasing a single-family home. STEP 1 includes the course material; STEP 2 is Test Tips; and STEP 3 is the Homebuyer Education Test. Once you have passed the test, you will be offered a certificate that can be printed and presented to your loan originator. The entire process can be completed in about 90 minutes.