Welcome Home Program with Peoples Bank

The Federal Home Loan Bank of Cincinnati (FHLB) offers grants of up to $25,000 for homebuyers who are honorably discharged veterans, active-duty military personnel, reservists, or surviving spouses of service personnel and $20,000 for all other homebuyers to assist with down payment and closing costs for income eligible homebuyers through the Welcome Home Program (WHP). Homebuyers must apply and qualify for a mortgage loan to utilize the grant.


Who are Eligible Homebuyers?

A homebuyer would be eligible for the Welcome Home grant if all the following guidelines are met:

  • The 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 (signed by buyer and seller) purchase contract on an eligible property is in hand.
  • The homebuyer has at least $500 of their own funds to contribute towards down payment and/or closing costs; and,
  • If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory home-buyer counseling course is completed prior to the loan closing.

What is an Eligible Property?

  • A property would be eligible if all the following guidelines are met:
  • The property will be the home-buyer’s primary residence.
  • The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
  • The property is subject to a legally enforceable five-year retention mechanism, included in the Warranty Deed or as a Declaration of Restrictive Covenants to the Warranty 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.

How Do I Apply?

New for 2024, there will be one offering date: March1st.

For more information on the program please contact us:


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