Welcome Home Grant of $5,000 Available 3/1/2018
The “Welcome Home” Grant Program opens this year on March 1st, and offers up to $5,000 for low and moderate income buyers in Ohio. The grant can be used for down payment assistance and/or closing cost assistance for qualifying home buyers.
Things to Know about the Ohio Welcome Home Program:
- Only an authorized lender like Day Air Credit Union can offer Welcome Home Funds when financing your purchase.
- Buyers must meet income guidelines.*
- Must be in contract on property. (Grant application property is specific and can’t be transferred)
- You must have a signed loan application with an authorized lender. Start an application with Day Air here.
- Buyer must have $500 of their own funds for the transaction but $300 of that amount can be a gift.
- Available with most loan types.*
- Property Type is single-family, condominium, 2-4 unit property
- Not limited to First Time Home Buyer (Can’t own home at the time of closing)
- Borrower cannot get money back at closing. (Not even earnest money or pro-rated taxes)
- Not available for homes in need of significant repair.
*Speak with a Day Air Mortgage Representative for complete details.