THE WELCOME HOME PROGRAM IS CLOSED FOR 2025. INFORMATION FOR NEXT YEAR'S PROGRAM WILL BE SHARED IN 2026.
The Savings Bank is offering the 2025 Welcome Home grant, provided by Federal Home Loan Bank of Cincinnati, allowing homebuyers to receive up to a $20,000 grant to fund down payment and closing costs for low- and moderate-income homebuyers purchasing a primary residence!
Funds will be offered starting at 8:00 a.m. ET on Monday, March 3, 2025. The Welcome Home Program (WHP) offers grants of up to $20,000 to fund down payment and closing costs for low- and moderate-income homebuyers. The program is CLOSED at this time. Please come back in 2026 for next year's program.
Grant funds will be reserved on a first-come, first-served basis until all funds have been reserved. The Savings Bank is eligible to receive up to $600,000 of WHP funds as a member of the Federal Home Loan Bank of Cincinnati.
Below is an abbreviated list of the program guidelines:
- The total income for all occupants must be at or below 80 percent of the Mortgage Revenue Bond limit for the county and state where the property is located.
- In PICKAWAY COUNTY the limit for a family of one or two persons is $82,640, and for a family of three or more the limit is $95,036.
- In MADISON COUNTY the limit for a family of one or two persons is $82,640, and for a family of three or more the limit is $95,036.
- In FAIRFIELD COUNTY the limit for a family of one or two persons is $82,640, and for a family of three or more the limit is $95,036.
- For limits in further counties, please give us a call at 1-800-582-2265 or use our Contact Us form.
- Homebuyers must pay a minimum of $500 toward the purchase of the property.
- First-time homebuyers must complete a homeownership counseling program.
- Grant funds are intended only for homebuyers who qualify for the first mortgage based on their own merit. Co-signors and non-occupant co-borrowers are not permitted.
- The maximum interest rate for the first mortgage may not exceed 9.875 percent.
- All eligible property assisted with WHP funds is subject to a five-year retention mechanism, which may require the household to repay all or a portion of the subsidy, if the home is sold or refinanced within five years from the closing of the transaction.
To get started, give us a call at 1-800-582-2265 or use our online Contact Us form. Funds are limited and those interested are encouraged to begin the process today!
The Savings Bank
Member FDIC/Equal Housing Lender (NMLS # 462552)
Loans Subject to Credit Approval