Welcome Home Money is back March 1st! Don’t miss out on your opportunity to receive $5,000 towards your home purchase.
Through the Welcome Home program, low and moderate income home buyers in Ohio can receive a $5,000 grant to be used for down payment assistance and/or closing cost assistance. But funds are limited and will be distributed on a first come/first served basis. If you’re looking to buy a house, now is the time to act! If you wait, the money will be gone! Homes that go under contract in February but don’t close until after March 1st are eligible for the program.
Only authorized lenders can offer the Welcome Home money. Make sure to ask about it when you go for your preapproval. If you’re already pre-approved, contact your lender to see if they offer this program. If you’re looking for an authorized lender, contact me and I can refer you.
Your lender will have more information on the income limits and other details of the program.
Home buyers must contribute at least $500 toward the down payment or closing costs. Up to $300 of that may be received as a gift. Buyers are required to stay in the home for 5 years, or they will be required to repay the grant on prorated basis.
This program is not limited to first time home buyers. However, the home buyer can not own a home at the time of closing. Buyers will need to close on the sale of their current home before they can close on the purchase of their new home in order to use this money.
Talk to an authorized lender for more details.
Call me today to find a home and claim your Welcome Home Money before it runs out!
By: Bonnie Marlow, Realtor, Cisco Realty