MINSTER — Minster Bank has announced its participation in the Welcome Home Program sponsored by the Federal Home Loan Bank of Cincinnati.
The Federal Home Loan Bank of Cincinnati has established a set-aside of Affordable Housing Program funds to help create homeownership.
Home funds are available to Minster Bank as grants to assist homebuyers. Welcome Home grants are limited to $5,000 per household; households are eligible only if the total household income is at or below 80 percent of Mortgage Revenue Bond income limits, as adjusted for family size; and funds are offered on a first-come, first-served basis.
Homebuyers must contribute at least $500 of their own funds toward down payments and closing costs and first-time homebuyers must complete a homebuyer counseling program.
Welcome Home funds will be available for reservation beginning, March 1 and will remain available until all funds have been reserved.