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
* APY = Annual Percentage Yield. This product is a variable rate account and rates are subject to change without notice. $100 minimum to open the account. APYs are accurate as of October 1, 2024.
* 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.