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Welcome Home Program


The FHLB Cincinnati offers grants of up to $25,000 for honorably discharged veterans, surviving spouses of military personnel,  and active duty military homebuyers and up to $20,000 for all other homebuyers to assist with down payment and costs for income eligible homebuyers through the Welcome Home Program.  Homebuyers may apply and qualify for a mortgage loan with a member financial institution, like Killbuck Savings Bank, to utilize the grant.  
A homebuyer would be eligible for the Welcome Home grant if all of the guidelines are met:

  • The total income for all occupants who will reside 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. 
  • A fully executed (signed by the buyer and seller) purchase contract on eligible property is in hand.
  • The homebuyer has at least $500 of their own funds to contribute towards the down payment and/or closing costs.
  • And, if the first time homebuyer (typically anyone who has not owned a home in the past three years), a satisfactory homebuyer counseling course is completed prior to the loan closing. 
A property would be eligible if all of the following guidelines are met: 

  • The property will be the homebuyer's primary residence. 
  • The property is a single  family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home (if they are taxed as real estate and affixed to a permanent foundation).
  • 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 the FHLB Cincinnati be given notice of any refinancing, sale, foreclose, deed in-lieu of foreclosure, or change in ownership during the five year retention period.  
Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 1, 2024 and will remain available until all funds have been reserved. Homebuyers must apply with a member institution.  We invite you to contact one of our Killbuck Savings Bank Mortgage Lenders at 330-276-4881 for more information.  

*This program is administered by the FHLB Cincinnati.  Killbuck Savings Bank cannot modify or make exceptions to any of the program requirements.  Please visit the Welcome Home Program page for complete details.