Welcome Home Grant of $5,000 Available 3/1/2017

By
Mortgage and Lending with The Union Bank Co. NMLS 461421

 “Welcome Home” grant program opens this year on March 1st at 8 am and offers up to $5,000 for low and moderate income home buyers in Ohio and Kentucky.  The grant can be used for down payment assistance and/or closing cost assistance for qualifying home buyers.

The “Welcome Home” grant is a program offered by the Federal Home loan Bank of Cincinnati through its participating Lenders. Each institution receives $200,000 to offer as grant assistance. 

Since the funds are available on a First Come /First Serve basis it is highly recommended that preparations be made prior to March 1st when possible.

Things to Know:

  • Only an authorized lender can offer Welcome Home Funds when financing your purchase
  • Buyers must meet income guidelines. In Central Ohio income limits are $55,680 for a 1-2 person household and $64,032 for a household of 3+ See additional locations here:  County Income limits
  • Must be in contract on property (grant application is property specific and can't be transferred)
  • You must have a signed loan application with an authorized lender Start Here
  • Buyer must have $500 of their own funds for the transaction but $300 of that amount can be a gift
  • Available with most loan types: FHA, VA and our CHAMP No MI 5% down program.
  • Property Type of Single Family, Condominium, 2-4 unit property
  • Not limited to First Time Home Buyer (Can't  own home at the time of closing)
  • First Time Home Buyer must complete a home buyers education class
  • Borrower cannot get any money back at closing (Not even earnest money or pro-rated taxes)
  • Not available for homes in need of significant repair
  • First time buyers may also qualify for an additional annual tax credit program of up to $2,000/ year

Updates aavailable at: https://www.facebook.com/WelcomeHomeOhio/

Home buyers can complete an online loan application at www.6145713554.com

Brent Diebert  NMLS 461421  Call/Text  614-571-3554 or Brent@614-571-3554.com

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Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brent, great news especially for those buyers with limited funds for their down payment!  

Jan 31, 2017 10:29 AM #1
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Rainmaker
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Brent Diebert

A Community Lender, Where Family’s Come First
Non-Conforming Condo Financing Specialist!!
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