Achieve Your Dream of Home Ownership
For a limited time, qualifying homebuyers can receive grants of up to $15,000.*
Apply Today at FBCO
*Through the Welcome Home program – administered by the Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) – honorably discharged veterans, surviving spouses of military personnel, and active duty military homebuyers can qualify for up to $15,000 to assist with down payment and closing costs on a home mortgage. All other homebuyers are eligible for up to $10,000.
First Bank of Central Ohio will guide you through every step of the process, from determining your eligibility and helping you apply for a mortgage loan, to ensuring all necessary paperwork is properly filed and keeping you apprised of your approval.
Homebuyer Requirements
Eligible homebuyers must meet the following guidelines:
- Total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located.
- A fully executed purchase contract on an eligible property is in hand, signed by buyer and seller.
- Subject to credit approval.
- If a first-time homebuyer (typically anyone who has not owned a home in the last three years), an approved homebuyer counseling course must be completed prior to the loan closing.
Note: Applicants do not have to be first-time homebuyers.
Property Requirements
Qualifying properties must meet the following guidelines:
- The property will be the homebuyer’s primary residence.
- The property is a single family, townhome, condominium, duplex, multi-unit1 or a qualified manufactured home2.
- The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.
1Up to four family units.
2Taxed as real estate and affixed to a permanent foundation.
Contact FBCO Today
For more program information and to determine whether you qualify, contact First Bank of Central Ohio at (614) 992-6700, or click on the Contact button below. A representative will contact you within 24 hours.