The Welcome Home Program

A grant assistance program to help create homeownership

Federal Home Loan Bank (FHLB) of Cincinnati, through Member financial institutions, is offering grants of up to $20,000 for eligible homebuyers to help with down payment and closing costs.* This “Welcome Home Program” is a fantastic option for eligible homebuyers. Field & Main Bank is available to accept applications for this program as a member financial institution.

*Funds are limited and will be awarded on a first-come-first-served basis. Applicants who meet eligibility requirements will be submitted to FHLB. FHLB will issue approval letters.

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Frequently Asked Questions (FAQ)

How Much is the Grant?

Each grant is $20,000 for all qualifying homebuyers.

What is this Grant Money Used For?

This grant money can be used for a down payment or closing costs on your new home, though many choose to use it to cover a significant fee entirely. Funds are not intended for purchases requiring any significant repair or rehab.

*Because this monetary offering is a grant, this money does not have to be paid back.​

Do I Have to be a First-Time Homebuyer to Qualify?

This grant is available to anyone who qualifies for the loan, not just first-time homebuyers. Approval is based on county income limits set by the federal government, and the total income for all occupants who will reside in the home must be at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located.

When are Applications Accepted?

Applications will be reviewed starting March 3, 2025. The Federal Home Loan Bank will accept applications until funds are depleted or Field & Main Bank reaches its $600,000 grant limit.

How Does the Grant Process Work?

If you’re interested in applying, email us or call one of our mortgage lenders at (888) 831-1500 to check your eligibility. Applicants must contribute at least $500 of their own funds towards down payment and/or closing costs.

Here’s a Step-by-Step Breakdown:

  1. Make an appointment with a Field & Main Bank mortgage lender.
  2. Complete the mortgage application once you have a fully executed (signed by buyer and seller) purchase contract on an eligible property.
  3. Field & Main will submit your application to the Federal Home Loan Bank.
  4. Upon approval, Field & Main will close the loan.

Why Choose Field & Main

We are a community-driven bank that prioritizes your needs. As your lender and loan processor, we are available to answer any questions that arise. Our customers have access to lenders before, during and after the loan closes and we strive to respond to our clients in a timely manner, typically within one business day.

If you want to estimate your mortgage payments, check out our mortgage calculator.

Contact Information for the Welcome Home Program

For more information about the Welcome Home Program, call 1-888-831-1500 or email us and we would be happy to help you.

Apply for a Welcome Home Grant

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