Assistance for Home Buyers

Real Estate Agent with America's 1st Choice RH Realty Co., Inc.


Funds are available for homebuyers through the Welcome Home Program.  These funds may be used by any home buyers who qualify under income levels based on family size.

Below you will find a brief summary of the Welcome Home Program.  For more details, you can go to

Welcome Home Program

Welcome Home funds may be used to fund down payments and closing costs when you purchase your home.  You must occupy the home as your primary residence and have income that falls within the low and moderate income levels.

Lenders participating in the Welcome Home Program will have funds available beginning May 1, 2009.

Funds may be used only to assist households whose incomes are at or below 80% of the income limits adopted by the appropriate state housing finance agency (and are adjusted for family size).

Homebuyers must contribute at least $500 of their own funds toward down payment and closing costs (60% of these funds may be received as a gift).  This requirement is waived if the homebuyer is disabled (additional documentation may be required).

First-time homebuyers must complete a homebuyer counseling program. The counseling program must cover the following:

  • Mortgage financing
  • Credit-worthiness
  • Household budgeting
  • Home maintenance

Counseling is not required of other home buyers.

The loan will be forgiven over five years, at a rate of $1,000 a year.  In other words, a home owner who used Welcome Home funds to purchase a home and received a $5,000 grant must occupy the home for no less than five years in order to have the entire amount of the grant forgiven.  Selling the home in less than five years may require the home owner to pay back a portion of this grant.

Contact your lender to see if they participate in the Welcome Home program.

For more information, go to:


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Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

We have a similar program in New Jersey.  Thanks for the reminder, I wanted to check up on that here!

Apr 21, 2009 01:48 AM #1
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Jon...thanks for the reminder.  I have to check with my loan officers and see who is doing a simalar program!

Apr 21, 2009 02:24 AM #2
Jon Wnoroski
America's 1st Choice RH Realty Co., Inc. - Green, OH
Summit County Realtor

Hi Laura and William - I've had buyers take advantage of this program in prior years.  These grants are limited and are given on a "first-come" basis.  Contact your lenders to find out who is participating in this program.

Apr 21, 2009 10:47 AM #3
Tim Bradford
Cleveland, OH
NMLS 250013

Jon,  Thank you for the post.   I will have to look into the program.   There are many incentives, the 8,000 Federal Stimulus and the OHFA MCC program.   Also, there are a number of value priced homes that are on the market.    

Apr 22, 2009 11:07 AM #4
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

thanks Jon, I too will look into the program for the Raleigh area.  Isn't it wonderful that 1st time home buyers (and others) have a way to actually fulfill their home buying dreams?  Thanks again for sharing!

Apr 23, 2009 01:18 AM #5
Marilyn Harrell
ReMax Riverhaven - Beaverton, MI
Wixom Lake - Beaverton MI

Sounds like a great program for those who will qualify!

Apr 28, 2009 06:50 AM #6
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

We have a similar program called Nevada Bond here.  Got my second in escrow for the year!

Apr 28, 2009 02:26 PM #7
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Jon Wnoroski

Summit County Realtor
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