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Welcome Home Program

Grants for low to moderate income homebuyers.

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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-serve” basis on March 3, 2025, and will remain available until all funds have been reserved. Homebuyers are limited to a minimum of $10,000 up to a maximum of $20,000. 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.  

Welcome Home Income Limits

County State 1-2 Persons 3+ Persons
Adams IN $71,760 $82,524
Allen IN $71,760 $82,524
Butler OH $83,840 $96,416
Champaign OH $73,040 $83,996
Defiance OH $73,040 $83,996
DeKalb IN $71,760 $82,524
Delaware IN $71,760 $82,854
Fayette IN $86,112 $100,464
Franklin IN $86,112 $100,464
Fulton OH $73,040 $83,996
Hancock OH $73,040 $83,996
Henry OH $73,040 $83,996
Jay IN $71,760 $82,524
Lucas OH $73,040 $83,996
Macomb MI $76,720 $88,228
Oakland MI $76,720 $88,228
Randolph IN $71,760 $82,524
Shelby OH $76,000 $87,400
Steuben IN $72,560 $83,444
Wayne IN $86,112 $100,464
Wayne MI $76,720 $88,228
Wells IN $71,760 $82,254
Williams OH $73,040 $83,996
Wood OH $73,040 $83,996

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 3, 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.

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