Skip to main content

Welcome Home Program

Grants for low and moderate income homebuyers.

You work hard so you can live your best life. So do we.

F&M Bank is proud to partner with the FHLB to offer our customers Welcome Home Fund grants – which can be used to fund reasonable down payments and closing costs for low and moderate income homebuyers.  

Welcome Home funds will be available for reservation on a “first-come, first-served” basis on March 1, 2024, and will remain available until all funds have been reserved. As we’ve experienced in the past, funds may be available for only a few weeks. Borrowers must complete an application, provide income documentation and have an executed purchase agreement before submittal.  

The FHLB offers grants of up to $25,000 for honorably discharged veterans, surviving spouses of military personnel, and active-duty military homebuyers and up to $20,000 for all other homebuyers.

Welcome Home Income Limits

County State 1-2 Persons 3+ Persons
Adams IN $69,440 $79,856
Allen IN $69,440 $79,856
Butler OH $82,880 $95,312
Champaign OH $72,480 $83,352
Defiance OH $72,480 $83,352
DeKalb IN $69,440 $79,856
Delaware IN $69,440 $79,856
Fayette IN $83,328 $97,216
Franklin IN $83,328 $97,216
Fulton OH $72,480 $83,352
Hancock OH $72,480 $83,352
Henry OH $72,480 $83,352
Jay IN $69,440 $79,856
Lucas OH $72,480 $83,352
Randolph IN $69,440 $79,856
Shelby OH $74,480 $85,652
Steuben IN $69,440 $79,856
Wayne IN $83,328 $97,216
Wells IN $69,440 $79,856
Williams OH $72,480 $83,352
Wood OH $72,480 $83,352

Frequently Asked Questions

Please contact your local F&M Bank Home Loan Originator for more details!

Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 1, and will remain available until all funds have been reserved.

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.

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.

Have more questions?

Find us across Ohio, Indiana and Michigan. Or right here online.