Grant funds available with the Welcome Home Program

The Arlington Bank has $200,000 in grant funds available to low and moderate income home buyers in Central Ohio. The grants are available up to $5,000 and funds can be used for both down payment and closing costs. For the purpose of this program income limits are $54,880 for a 1-2 person family and $63,112 for a family of 3 or more.
The Welcome Home program is for the purchase of an owner occupied primary residence. This program is NOT limited to 1st time homebuyers but for qualifying buyers that currently do not own a home. 1st time homebuyers are required to complete homebuyer education prior to closing on their home and home buyer’s education is recommended for all buyers under this program. Homebuyers must contribute a minimum of $500 to the transaction.
Funds for this program are available on a first come/first serve basis and you must be in contract on a property to reserve funds. FHA financing is available in conjunction with this grant program at current interest rates subject to loan qualifications. With FHA loan costs increasing in April of 2011 there is no better time to make application for both an FHA loan and the Welcome Home grant program. Applications can be initiated online at:
Brent Diebert Mortgage Loan Professional
Mobile 614-571-3554

Comments are closed.