Columbus, Ohio (February 13, 2024) – More Ohioans can now benefit from the state’s new homeownership program, Ohio Homebuyer Plus, as Treasurer Robert Sprague announces the addition of two new participating financial institutions: Home Loan Savings Bank and Richwood Banking Company.
This brings the total number of participating institutions to 10, expanding access to the program for aspiring homeowners across the state.
What is Ohio Homebuyer Plus?
This innovative program aims to make homeownership more attainable by offering:
- Above-market interest rates: Earn higher returns on savings dedicated to your down payment or closing costs.
- Potential tax benefits: Certain account holders may qualify for Ohio state income tax deductions.
Eligibility:
- Must be an Ohio resident at least 18 years old.
- Must have a primary residence in Ohio.
- Must use the funds solely for a down payment or closing costs on a primary residence in Ohio.
Account Details:
- Open accounts at participating banks or credit unions.
- Funds must be used within five years.
- Minimum balance of $100 required.
- Maximum balance of $100,000 allowed.
How to Participate:
- Visit ohiotreasurer.gov/homebuyerplus for a complete list of participating institutions and program details.
- Contact your preferred bank or credit union to open an Ohio Homebuyer Plus account.
Treasurer Sprague commends the program’s growth: “By partnering with more financial institutions, we’re making the dream of homeownership more accessible for Ohioans. Ohio Homebuyer Plus offers valuable advantages and encourages responsible saving for a down payment.”
This expansion opens doors for more Ohioans to achieve their homeownership goals. If you’re considering buying a home, explore this program and take advantage of its benefits!
