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.
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