For aspiring homeowners, the barrier to buying a home isn’t always the monthly payment, it’s the upfront costs. That’s where programs like the Welcome Home1 grant can make a meaningful difference.
What is the Welcome Home Program?
The Welcome Home Program is a homebuyer assistance program offered through the Federal Home Loan Bank (FHLB) of Cincinnati. It provides up to $20,000 to eligible low-to-moderate income buyers with grant funds to offer down payment and closing cost assistance.
When Does the Program Open?
Grant funds will be available beginning April 6, 2026, at 8:00 a.m. EST, and are offered on a first-come, first-served basis. Because funding is limited, buyers are encouraged to begin the mortgage prequalification process early.
Who Qualifies for the Welcome Home Program?
- The total household income must be at or below 80% of the Mortgage Revenue Bond (MRB) limit for the county and state where the home is located.
- A fully signed purchase contract for an eligible property is needed before funds can be reserved.
- The homebuyer has at least $500 of their own funds to contribute towards both down payment and closing costs.
- First-time homebuyers must complete an approved homebuyer counseling course prior to loan closing. (Applicants do not have to be first-time homebuyers.)
What Types of Homes are Eligible?
The home being purchased must serve as the buyer’s primary residence.
- Single-family homes
- Townhomes
- Condominiums
- Duplexes or multi-unit homes (up to four units)
- Qualified manufactured homes affixed to a permanent foundation
What Loans Can the Grant Be Used With?
Grant funds may be used in conjunction with:
- FHA loans2
- VA loans3
- USDA Rural Development loans
- Conventional mortgage loans
How to Prepare Now
Speak with your local Peoples Bank mortgage consultant to help:
- Determine income eligibility
- Understand your financing options
- Prepare required documentation
- Be ready when grant funds become available
Learn More About the Welcome Home Program
If you’re interested in learning more, visit peoplesbancorp.com/welcome-home and connect with a Peoples Bank mortgage consultant to discuss eligibility and next steps.
NMLS# 617258.
This is not a commitment to lend or extend credit. Information is subject to change without notice. All loans subject to application, credit and collateral approval. Peoples Bank is not acting on behalf of, or at the directions of, the VA, FHA the USDA or the Federal Government. Payment of taxes, insurance, discount points and HOA fees are the responsibility of the borrower. Consult a tax advisor regarding tax deductibility. Interest on loan greater than Fair Market Value is not tax deductible.
1Welcome Home Grant funds are available for low-to-moderate-income households purchasing a home. Act now, since this program will only last as long as FHLB funds remain available.
2MIP is Mortgage Insurance Premium and required by FHA.
3VA loans require a VA certificate of eligibility and non-refundable funding fee collected at closing. The fee varies with the amount of the down payment and is higher with no or low down payments.
