Thinking about buying a home? Up to $10,000 may be available to you with a grant through the Welcome Home Program*.
The Welcome Home Program is a grant that helps those that want to buy a home but are in need of additional funds to help cover the down payment and closing costs.
- Homebuyers may be eligible to receive up to $10,000 based on documented need.
- Funds will be made available on February 6, 2023, and are available on a first come, first served basis.
- First State Bank will work with homebuyer to gather documentation to submit application to reserve funds.
- Funds are available for homebuyers to purchase a primary residence only.
- Funds may be used only to help households whose incomes are at or below 80% of Mortgage Revenue Bond (MRB) income limits, as adopted by state housing finance agency, adjusted for family size.
- Homebuyers must contribute at least $500 of their own funds towards the down payment and closing costs.
- A homebuyer counseling program must be completed.
- Funds can be used towards new home construction.
- Funds may be used towards traditional mortgage or government loan such as VA, USDA or FHA.
- Grants are available up to $15,000 for honorably discharged veterans, surviving spouses of military personnel, and active duty military homebuyers*.
*In order to receive funds, qualifications will apply. Equal Housing Lender.