Sponsored by The Peoples Bank Co. and the Federal Home Loan Bank of Cincinnati - Limited time offer - Some restrictions do apply
A homebuyer would be eligible to apply 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 percent 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;
The homebuyer has at least $2,500 of their own funds to contribute towards down payment and/or closing costs;
Eligibility is determined by total household income (income of all adults who live in the home). Figures below are to be used for estimate purposes only. The Bank will calculate income based on documents requested at the time of application. Composition of household includes all persons residing in the home, regardless of age or income.
|County of Residence||1-2 Persons||3 Persons+|
|Van Wert, Darke County||$51,440||$59,156|
If a first-time homebuyer (typically anyone who has not owned a home in the last three years), a satisfactory homebuyer counseling course is completed prior to the loan closing.
Note: Applicants do not have to be first-time homebuyers. The Peoples Bank Co. provides this counseling to simplify this process.