Welcome Home Program

Citizens Federal Savings and Loan is proud to be a participating member financial institution in the 2024 Welcome Home Program.

Through the Welcome Home Program, the Federal Home Loan Bank (FHLB) of Cincinnati will offer grants to eligible homebuyers to help with downpayment and closing costs on an eligible property. Grants of up to $25,000 are offered for honorably discharged veterans, surviving spouses of military personnel, and active-duty military homebuyers. Grants of up to $20,000 are offered for all other eligible homebuyers. All grants are offered through the Welcome Home Program. Homebuyers must apply and qualify for a mortgage loan with a participating member financial institution to utilize the grant money.

Eligible Homebuyer Qualifications

Homebuyers must meet all qualifications for eligibility.

• The total income for everyone who will live in the home is at or below 80% of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located.

• The homebuyer has a fully executed purchase contract on an eligible property in hand.
• Contact our loan department at 937-593-0015 for information regarding the down payment and closing cost contribution requirements.

• If you are a first-time homebuyer (or someone who has not owned a home within the last three years), you must complete an accepted homebuyer counseling course before your loan closing.

Eligible Property Guidelines

The property must meet all guidelines for eligibility.

• The property will be the homebuyer’s primary residence.
• The property is a single-family, townhome, condominium, or duplex.
• 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 FHLB Cincinnati to be given notice of any refinancing, sale, foreclosure, deed-in-lieu of foreclosure, or change in ownership during the five-year retention period.

Application Process

Homebuyers must apply with a 2024 participating member financial institution, such as Citizens Federal Savings and Loan.

Grant funds will be available for reservation beginning at 8:00 a.m. ET on March 1. Funds are available on a first-come, first-served basis. Funds will remain available until all funds have been reserved.

Contact our loan department today at 937-593-0015 to apply.

Disclaimer
The above homebuyer and property eligibility qualifications and/or guidelines are listed according to the requirements of the Federal Home Loan Bank of Cincinnati and Citizens Federal Savings and Loan.
All loans are subject to credit approval.