Ohio Homebuyer Plus Savings

In conjunction with the Ohio Treasurer’s Office, 1^st National Bank is pleased to offer Ohio Homebuyer Plus to our customers.

Download the Ohio Homebuyer Savings Account Application

What is Ohio Homebuyer Plus?

Ohio Homebuyer Plus makes specialized, tax-advantaged savings accounts available to Ohioans to assist them on their homebuying journey. Individuals who open an account through this program will have access to a 6.00% APY* that will help them to save and grow their money faster.

Advantages of Ohio Homebuyer Plus

• Open an account with as little as $100
• Earn above-market interest on your deposit
• Qualifying savers may be able to write off up to $5,000 on your state income tax per year**
• Flexibility of up to 5-years to save before purchasing your home

How do I qualify?

• Be an Ohio resident at least 18 years of age
• Have your primary residence located in the State of Ohio
• Only use account proceeds toward the down payment or closing costs of a home purchased in Ohio, with the home becoming your new primary residence

Accounts must be used within 5 years, maintain a minimum balance of at least $100, and cannot exceed a maximum balance of $100,000.

Start your Application

Download the Ohio Homebuyer Savings Account Application

Learn more about Homebuyer Plus

For more information about the Ohio Homebuyer Plus program, please visit ohiotreasurer.gov/homebuyerplus.

Still have questions? Have us contact you!

Ohio Homebuyer Plus Frequently Asked Questions

• Who is eligible to open an Ohio Homebuyer Plus account?
  • To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible account holder must:
    • Be an Ohio resident at least 18 years of age
    • Have a primary residence in the State of Ohio; and
    • Only use the account proceeds toward the down payment or closing costs of a primary residence in Ohio

• Can my spouse and I both use our accounts to purchase a home?
  • Two individuals who are legally married are both eligible to open and fund individual accounts and use funds from those accounts for a down payment, closing costs or other eligible expenses associated with a new home purchase.

• Where can I open an Ohio Homebuyer Plus account?
  • An Ohio Homebuyer Plus savings account can be opened through 1st National Bank!

Download the Ohio Homebuyer Savings Account Application

• Are there any income requirements to open an Ohio Homebuyer Plus account?
  • No. Ohioans at any income level. who meet the necessary eligibility criteria, may open an enhanced interest savings account through the Ohio Homebuyer Plus program.

• What if my circumstances change or I move out of state and do not purchase a primary residence in Ohio?
  • If an accountholder’s circumstances change or if the move out of state, they keep all money saved as well as the interest accrued in their account. Additionally, if the account holder is no longer eligible, their Ohio Homebuyer Plus account will close and the enhanced interest earnings end. Funds not used for an eligible home purchase may result in State of Ohio tax reporting requirements and possible tax liabilities.

Please note: Individuals are required to review the Ohio Homebuyer Plus participation statement prior to opening an account through the program. You can review the participation statement at: https://tos.ohio.gov/files/Pdfs/Participation.pdf 

*Annual Percentage Yield (APY) is 6.00% APY and interest rate is 5.83%, effective as of July 1, 2024, is a variable rate, and subject to change without notice. Minimum balance of $100 to open an account and obtain APY. Subject to approval by the State of Ohio.

**Consult with your tax advisor about tax advantages. 1^st National Bank nor the Ohio Treasurer’s office offers any financial or legal advice.