FHLB Welcome Home Program Mortgage
FHLB Down Payment Assistance: Welcome Home Program Grant
2024 Program has Ended
Get down payment and closing cost assistance for affordable housing in your community with the FHLB Welcome Home Program Mortgage from 1st National Bank. Apply for the Welcome Home Program grant today to learn if you qualify.
About the FHLB Welcome Home Program
The FHLB Welcome Home Program grant offers up to $25,000 for honorably discharged veterans, surviving spouses of military personnel, and active-duty military homebuyers. Other homebuyers can get up to $20,000. The grant money can be used for down payment or closing costs, making it easier for you to own a home.
FHLB Welcome Home Program Mortgage Eligibility & Qualification Requirements
To qualify for the grant:
- Your total household income must be at or below 80% of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located.
- You also need a fully executed purchase contract on an eligible property and at least $500 of your own funds to contribute towards the down payment and/or closing costs.
- If you are a first-time homebuyer, you need to complete a satisfactory homebuyer counseling course prior to loan closing. Note that applicants do not have to be first-time homebuyers.
- The eligible property must be your primary residence, and it can be a single-family, townhome, condominium, duplex, multi-unit (up to four-family units), or a qualified manufactured home (if taxed as real estate and affixed to a permanent foundation).
- The property must also have a legally enforceable five-year retention mechanism, which makes owning a home more secure for you and your family.
How to Apply for our FHLB Welcome Home Program Mortgage
At 1st National Bank, we’re committed to making the home buying process as easy as possible for you. Our experienced loan officers will guide you through the application process and help you find the mortgage loan that fits your needs. Contact us today to learn more about the FHLB Welcome Home Program Mortgage and take the first step towards homeownership.
*Member FDIC. Equal Housing Lender. FHLB Participant. Not all applications will qualify. A guarantee to lend is neither offered nor implied based on this advertisement. FHLB grant money available 3/1/2024 until it runs out, typically within a few weeks. Grants are given on a first-served basis and approved by both 1st National Bank AND FHLB Cincinnati. Additional conditions may apply.
