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The 2024 Welcome Home Program has ended!

The Federal Home Loan Bank's 2024 Welcome Home Program is now closed to new requests. Please check back next year for a new round of grants. 

The Federal Home Loan Bank (FHLB) is pleased to announce the Welcome Home Program (WHP) will be offered beginning on March 1, 2024. The WHP offers grants to fund down payment and closing costs for low- and moderate-income homebuyers purchasing or constructing a primary residence. Grant funds will be reserved on a first-come, first-served basis until all funds have been reserved.

New for 2024:

  • Grant increased to $20,000 for homebuyers or $25,000 for honorably discharged veterans, active duty military, and surviving spouses of service personnel.

Am I an eligible homebuyer?

A homebuyer would be eligible for the Welcome Home grant if all of the following guidelines are met:

  • The total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located;
  • A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand;
  • The homebuyer has at least $500 of their own funds to contribute towards down payment and/or closing costs; and,
  • If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing. Note: Applicants do not have to be first-time homebuyers.

Is the property I'm purchasing eligible?

A property would be eligible if all of the following guidelines are met:

  • The property will be the homebuyer’s primary residence;
  • The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
  • The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.

How do I apply?

Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 1, and will remain available until all funds have been reserved.

Have questions? Please call 419.426.3641 and ask for the mortgage lender nearest you!

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