Effective March 1, 2010, First Place bank will have Welcome Home Funds Grants available for any buyer utilizing FHA, VA or OHFA financing. The grants can be used for downpayment assistance and/or closing costs. Max is $5000 per buyer. In order to reserve funds, buyer must have accepted purchase contract & must meet HOUSEHOLD income guidelines, along with loan program guidelines in regard to credit, debt to income ratio, etc.
For Cuyahoga, Lorain, Lake, Geauga, & Medinca counties for a household of 1-2 maximum income is $51840.
For Huron & Sandusky counties the max income for 1-2 person household is $49120.
For Erie county the max income for 1-2 person household is $50640.
Buyer must have $500 of own funds into the transaction. For the purchase of a single family owner occupied property. Buyer doesn't have to be a first time buyer.
Funds are allocated on a first come first served basis.
Call 440.452.3894 for a preapproval.