2025 WELCOME HOME 

Down-Payment & Closing-Cost Assistance up to $20K beginning March 3rd!

Call (859) 233-4500 to speak with a lender today!

Welcome Home funds are offered by the Federal Home Loan Bank of Cincinnati and are reserved on a first-come, first-served basis beginning at 8am ET, March 3^rd, 2025, and will remain available until all funds have been reserved. Reservations may not be submitted in advance. Grant does not require separate payment obligation unless loan is sold or refinanced within a 5 year-period. More details below.

What is the Welcome Home Program?

The Welcome Home Program (WHP) offers grants to fund down payments and closing costs for the purchase or construction of owner-occupied housing by income eligible homebuyers.

Qualified homebuyers can receive Welcome Home grants up to $20,000!

As a Member of the program, our mortgage loan officers can assist you with qualifying for a grant.

Am I a qualified homebuyer?

You’d be eligible for the Welcome Home grant if all of the following 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 buyer and seller) purchase contract on an eligible property is in hand.
• You’re able to contribute at least $500 of your own funds towards down payment and/or closing costs.
• AND, if you’re a first-time* homebuyer (typically anyone who has not owned a home in the last 3 years), a satisfactory homebuyer counseling course is completed prior to the loan closing.

*Note: You don’t have to be a first-time homebuyer.

Is this property eligible for Welcome Home Fund?

The property would be eligible if all of the following guidelines are met:

• The property is a 1- to 4-unit dwelling and will be your primary residence, including new construction.
• If it’s a manufactured home, it may be eligible if it’s taxed as real estate and has a permanent foundation.
• The property is subject to a legally enforceable 5-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, foreclosure, deed in-lieu of foreclosure, or change in ownership during the 5-year retention period.

What does the process look like?

• Get pre-qualified with a Bank of the Bluegrass (BOB) mortgage officer.
• Execute a purchase contract on an eligible property.
• Complete a loan application with a BOB mortgage officer.
• BOB mortgage officer determines loan eligibility and submits an online reservation request to the Federal Home Loan Bank of Cincinnati (FHLB).
• FHLB reviews the request and issues an approval letter, which can take up to 4 weeks.
• BOB mortgage officer closes the loan and records the retention language in the warranty deed.
• Congratulations:  You own a home using the Welcome Home funds!

Federal Home Loan Bank of Cincinnati  “Welcome Home Program”   |   Offer of credit is subject to credit approval.   |   Bank NMLS ID# 421548

How do I apply?

Please call any of our expert BOB mortgage lenders:

ACT FAST! Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 3^rd, 2025, and will remain available until all funds have been reserved.