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Ohio Homebuyer Savings Account 2024

Buying a home in the next five years? MB's Ohio Homebuyers' Savings Account Can Help You Earn More for Your First, Next, or Future Home.

This specialized savings account provides a higher interest rate and tax advantages used for a down payment and/or closing costs to your home. Designed for all homebuyers, not just first-time buyers.

Plus, take advantage of a special offer with $750 off closing costs.

 

 

 

Benefits:

  • Earn a Higher-Interest Rate
  • Contribute up to $100,000
  • Continue to save for up to five years
  • Deposits are federally insured by the FDIC
  • Deduct up to $5,000** on your State of Ohio Taxes
  • Discount Offer of $750 off mortgage closing costs


 

Ohio Homebuyer Plus Participation Statement
 

  • Application Information

  • When do you plan on purchasing your home?
  • What type of homebuyer are you?
  • Application Type
  • Applicant

  • ID Type
  • Applicant Primary Address (Cannot be PO Box and must be in OHIO)

  • Applicant Mailing Address (If different than Primary Address)

  • Signature

 

* APY = Annual Percentage Yield. This product is a variable rate account and rates are subject to change without notice. $500 minimum to open the account. APYs are accurate as of April 1, 2025.

* Tier 1: For the portion of your balance up to $10,000 the APY is 6.17% . Tier 2: For the portion of your balance from $10,000.01 up to $25,000 the APY range is 6.17% to 4.91% depending on the account balance. Tier 3: For the portion of your balance $25,000.01+, the APY range is 4.91% to 3.51% depending on the account balance and assuming a maximum balance of $100,000. There is a maximum contribution limit of $100,000. Must be 18 or older at time of account opening. Account duration is limited to 5 years. Individually-owned account, joint accounts not permitted. Only one account per individual across all participating financial institutions. Fees may reduce earnings. See bank for complete details.


** Individual tax deduction limited to $5,000 per year on State of Ohio tax return. Additional tax deduction may apply if filing jointly. Consult a tax
advisor regarding individual circumstances, potential federal tax implications, or the Internal Revenue Service.

*** OHP $750 Off Closing Costs: Available for first lien residential mortgage loans. Property must be owner-occupied. This offer is not available for Home
Equity Line of Credit or Home Equity Loans. Please present this offer on your mobile device or present the ad at the time of application or no later than
providing intent to proceed with loan. The $750 closing cost credit cannot exceed the actual amount of closing costs (after deducting any applicable
seller credits) and prepaid interest escrow reserves. All applicants are subject to credit approval and must satisfy the Bank’s lending conditions. Property
insurance required. Flood insurance may be required. Additional fees may apply. This offer valid for loans meeting program criteria AND must have an
MB Ohio Homebuyers Savings accounts opened between October 1, 2024 through December 31, 2025 that is active and in good standing. One offer
per purchase/residence. Not combinable with other offers. Promo Code: OHP24750