What is the Welcome Home Program?

The Welcome Home Program provides grants of up to $20,000 to assist income-eligible homebuyers with down payment and closing costs. Applicants must qualify for a mortgage through a participating financial institution to access these funds.

Who is eligible?

To qualify for the Welcome Home grant, homebuyers must meet these criteria:

- Total household income is at or below 80% of the Mortgage Revenue Bond (MRB) limit for the property’s location.

- Have a fully executed purchase contract for an eligible property.

- Contribute at least $500 of personal funds toward the purchase.

- Complete a homebuyer counseling course if a first-time buyer (those who haven’t owned a home in the last three years). Note: You don’t have to be a first-time buyer to qualify.

What types of properties are eligible?

Properties must meet the following guidelines:

- Be the buyer’s primary residence.

- Include single-family homes, townhomes, condominiums, duplexes, multi-unit properties (up to four units), or eligible manufactured homes.

- Be subject to a five-year retention requirement, ensuring the Federal Home Loan Bank is notified of changes in ownership or refinancing during this period.

Funds are limited and available on a first-come, first-served basis.