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Timothy M. Dirr

RE/MAX Sale Vice President

(513) 201-5678

timdirr@gmail.com

© 2019 Tim Durr. Powered by Quinnconcepts.

See if you qualify!

What is the Welcome Home Program?

The Welcome Home Program (WHP) offers grants to fund reasonable down payments and closing costs incurred in conjunction with the acquisition or construction of owner-occupied housing by low- and moderate-income homebuyers. The grants are limited to $7,500 for homebuyers who are honorably discharged veterans or active duty military personnel and $5,000 for all other homebuyers. Members are subject to an aggregate limit of $200,000 per offering. All funds are reserved for specific homebuyers purchasing specific homes and cannot be transferred to other homebuyers or to other homes. Welcome Home funds will be available for reservation on a first-come, first-served basis beginning at 8:00 AM ET on March 4, 2019, and will remain available until all funds have been reserved.

Call us!  (513) 201-5678

Who Can Use the WHP?

The FHLB has established a set-aside of Affordable Housing Program (AHP) funds to help create homeownership. These funds are available to Members as grants to assist their mortgage loan applicants in the home buying process. This is our most widely used program, ideally suited to the needs of community lenders and their customers. 

Qualified borrowers can receive up to $5,000 in grant funds to use for down payment and/or closing costs.

New for 2019: qualifying homebuyers who are honorably discharged veterans or active duty military personnel may receive grants up to $7,500!

2019 income limits are $62,640 for 1-2 person families and $72,036 for 3+ person families.

Contracts can be written prior to March 4th but the application for the grant cannot be submitted until March 4th.

What are the Program Requirements?

Below is an abbreviated list of program eligibility requirements:

  • The total income for all occupants must be at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located. The FHLB has an Income and Affordability Workbook to assist in determining household income eligibility.

  • Homebuyers must contribute at least $500 of their own funds towards down payment and/or closing costs.

  • WHP applicants do not have to be first-time homebuyers. However, all first-time homebuyers are required to complete a homeownership counseling program.

  • WHP grant funds are intended only for homebuyers who qualify for the first mortgage based on their own merit. Co-signors and co-borrowers are not allowed unless they will occupy the home as their primary residence and their incomes are included in determining eligibility.

  • WHP grant funds may be used in conjunction with other local, state and federal funding sources and with the FHLB Cincinnati’s Community Investment Cash Advance Programs.

  • The Member who reserves the WHP funds must originate the first loan, but the loan may close in the name of a third party.

  • The interest rate for the first mortgage may not exceed 8.50 percent.

  • The interest rate for the second mortgage may not exceed 12.00 percent.

  • Only second mortgages provided by formal organizations, community development financial institutions, housing finance agencies, non-profit organizations, etc. are acceptable.

 

All eligible property assisted with WHP funds is subject to a five-year retention mechanism (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.

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RESOURCES

INFORMATION FOR HOMEBUYERS

Click to download.

WELCOME HOME GUIDE

FOR HOMEBUYERS

Click to download.

HOMEBUYERS INCOME

ELIGIBILITY GUIDE

Click to download.

WHAT OUR CLIENTS THINK

"Tim did an excellent job in selling my property in Hyde Park. We had it on the market for a year before Tim took it over and sold it within a week!"

-Leslie Ghiz

“Tim exudes professionalism in every facet of his life from his Real Estate career to his interactions with friends and family. Tim’s integrity is a value that everyone should aspire to achieve. Tim’s passion and excitement can be heard through any of his discussions in Real Estate. He is the type of person that gives it 110% in everything he sets out to do!” 

"Tim is a hard working ethical salesman that can be trusted. I believe in today's marketplace people just wants someone that knows the business and cares about them and I think Tim is that guy. I would feel very comfortable recommending him to any of my friends or family."

-Garnet Wahlund

-Stephen Mizeres

Kevin Strehle  Mortgage Loan Officer

NMLS# 617159

kstrehle@eaglesavings.com 

O 513.233.7190  

F 513.233.7191 

M 513.608.2879

3420 Edwards Road,

Cincinnati, OH 45208

www.eaglesavings.com 

 

Visit www.kevinstrehle.com for mortgage rates or to complete an application

See my profile and reviews on Zillow

 

CONTACT US

ADDRESS

3522 Erie Ave, 

Cincinnati, OH 45208

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PLEASE CALL OR EMAIL US:

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Email: timdirr@gmail.com

Click to Call: 513-201-5678