MINSTER – Minster Bank has announced the availability of the Welcome Home Program, sponsored by The Federal Home Loan Bank of Cincinnati. This program, backed by The Federal Home Loan Bank of Cincinnati’s Affordable Housing Program (AHP) funds, aims to support the realization of homeownership.
Through this initiative, Minster Bank can provide Welcome Home grants as assistance to homebuyers. Specifically, honorably discharged veterans, active-duty military personnel, reservists, or surviving spouses of service personnel may be eligible for grants up to $25,000. Other homebuyers can benefit from grants of up to $20,000.
To qualify, households must have a total income at or below 80% of Mortgage Revenue Bond income limits, adjusted for family size. The grants are allocated on a “first-come, first-served” basis, emphasizing the importance of prompt application.
To participate, homebuyers are required to contribute a minimum of $500 of their own funds towards down payment and closing costs. First-time homebuyers must also complete a homebuyer counseling program to enhance their understanding of the homebuying process.
The reservation period for Welcome Home funds begins on March 1, 2024, and will continue until all funds are reserved. This presents a valuable opportunity for prospective homeowners to take advantage of this support. Contact your local Minster Bank branch representative to learn more.
Minster Bank has been building the financial strength of local communities since 1914. From Dayton to Lima, the bank officials will guide individuals, families, and businesses through their unique financial journey with solutions that last a lifetime. Take the first step to financial vitality. Learn more at minsterbank.com or 1-866-MINSTER (646-7837). Member FDIC. Equal Housing Lender.
