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Welcome Home Grant Program at Leaders

Welcome Home Program

Looking to purchase a home soon? Let Leaders lead the way on your behalf. The Welcome Home Program offers grants to fund down payment and closing costs for low and moderate income buyers.  

  • Available starting February 6
  • Grants up to $10,000 for homebuyers
  • Grants up to $15,000 for active duty military, honorably discharged veterans, reservists, and surviving spouses. 

Get Pre-Qualified today and one of our mortgage champions will help guide you through the process.

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What is the Welcome Home Program?

The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) offers grants 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 a member financial institutions, like Leaders Credit Union, to utilize the grant. 

 

Let one of our mortgage champions walk you through the Welcome Home grant process.

Get Pre-Qualified
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Frequently Asked Questions

Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on February 6, and again on July 6, 2023, and will remain available until all funds have been reserved.

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 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.

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.

Homebuyers can apply and get pre-qualified for Welcome Home grants through Leader Credit Union.

 

Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on February 6, and again on July 6, 2023, and will remain available until all funds have been reserved.

 

Don't delay! Get Pre-qualified today.

If you have questions about the Welcome Home Program, one of our mortgage champions would be happen to guide you through the program. You can schedule an appointment online or reach out directly to a mortgage champion.