The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) offers grants of up to $20,000 for homebuyers to assist with down payment and closing costs for income-eligible homebuyers through the Welcome Home Program (WHP). Homebuyers must apply and qualify for a mortgage loan with Middlefield Bank or a member financial institution. Grants are limited availability first come and first served basis.

Who are Eligible Homebuyers?

A homebuyer would be eligible 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 (see back for more details) 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 $500 of their own funds to contribute towards down payment and/or closing costs; and,
▼ 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.

What is an Eligible Property?

A property would be eligible if all of the following guidelines are met:

▼ The property will be the homebuyer’s primary residence;
▼ The property is a single family, townhome, condominium, duplex, multi-unit (up to four family units) or a qualified manufactured home. (Manufactured homes may be eligible if they are taxed as real estate and affixed to a permanent foundation); and,
▼ The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.

Current Program Income Limits

How Do I Apply?

An experienced Middlefield Bank Mortgage Lending Officer would be happy to answer any questions and assist with your application. Fill out the form on this page to have a lender contact you, or find a lender here.

Please Note: As Welcome Home grant funds are first come, first served, we recommend you apply before March 3, 2025 to secure your place in the queue.