Welcome Home Program
Affordable Housing Grant for 2023 - Reopening July 6, 2023
If you’re interested in buying or building a home, the Welcome Home Program (WHP) could be for you. The WHP offers grants for reasonable down payments and closing costs that buyers would incur during the purchase or construction of owner-occupied housing. This is specifically designed for low- and moderate-income homebuyers.
What are the details of the Welcome Home Program?
The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) offers grants of up to $15,000 for honorably discharged veterans, surviving spouses of military personnel, and active duty military homebuyers and up to $10,000 for all other homebuyers to assist with down payment and closing costs for income-eligible homebuyers through the Welcome Home Program. Homebuyers must apply and qualify for a mortgage loan with a Member financial institution to utilize the grant. The WHP funds will be available for reservation on a first-come, first-served basis beginning at 8:00 AM EST on February 6, and again on July 6, 2023, and will remain available until all funds have been reserved.
Who can take advantage of the Welcome Home Program?
The FHLB has established a set-aside of Affordable Housing Program (AHP) funds to help create homeownership. These funds are available to members as grants to assist their mortgage loan applicants in the home-buying process. This is our most widely used program, ideally suited to the needs of community lenders and their customers. Learn more about the eligibility requirements here.