Welcome Home Program

What is the Welcome Home Program?

The Welcome Home Program (WHP) is sponsored by Osgood State Bank and the Federal Home Loan Bank of Cincinnati. It offers grants to assist low and moderate income homebuyers with down payments and closing costs for the purchase or construction of a home they intend to occupy as their primary residence for at least 5 years.

How Much Can I Get?

The grants are limited to $7,500 for homebuyers who are honorably discharged veterans, active duty military personnel, reservists, or surviving spouses of service personnel and $5,000 for all other homebuyers. Homebuyers must contribute at least $500 of their own funds towards down payment and/or closing costs to qualify for the WHP grant.

What Kind of Property Can I Use the WHP For?

Any 1-4 unit property that will be the homebuyer's primary residence is eligible, however 85% of the projected rent of the units not occupied by the homebuyer must be included in the homebuyer's income. 

Some manufactured housing is eligible for the WHP. 

The WHP may be used for new home construction after the construction loan has been converted to a permanent loan.


What Else Should I Know?

While the WHP is not limited to first-time homebuyers, any first-time homebuyer utilizing the WHP must complete a home buyer counseling program.

Co-signers and co-borrowers are not allowed unless they intend to occupy the home as their primary residence and their incomes are included in determining eligibility.

Certain situations may require appraisals or additional documentation at the time of funds reservation. All loans are subject to credit approval and certain restrictions apply. 


Apply now or contact one of our experienced lenders today. We will be glad to guide you through the homebuying process and find financing that fits your needs. 

Sharon Lobo Kay Grey






All eligible properties assisted with WHP funds are subject to a five-year retention agreement, which may require the household to repay all, or a portion, of the subsidy, if the home is sold or refinanced within five years from the closing of the transaction.