This is only a brief overview of the Welcome Home Program. Complete details, limits, requirements, definitions, and guidelines are contained in the 2021 AHP Implementation Plan and in the 2021 Welcome Home Guide.
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, active duty military personnel, reservists, or surviving spouses of service 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 1, 2021, and will remain available until all funds have been reserved.
Who can use Welcome Home?
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.
How do I apply?
Homebuyers must apply with one of our member institutions. Click here to search our Member Directory.
Members may reserve funds via the Welcome Home Program link through the FHLB’s Members Only portal by submitting an online Reservation Request with supporting documentation. Instructions for accessing Members Only may be found here under Program Documents and Forms.
Additional information and technical assistance
For more information or assistance, please contact the Housing & Community Investment Department at (513) 852- 7680 or toll-free (888) 345-2246 or email us at firstname.lastname@example.org.
For assistance with Members Only, please contact the Service Desk at 800-781-3090.
Welcome Home Program Resources
- Program Guide [PDF]
- Retention Language [PDF]
- Certification of Zero Income [PDF]
- Closing Instructions for Members
- Counseling Agencies
- Declaration of Restrictive Covenants [PDF]
- Income and Affordability Workbook [EXCEL]
- Income Eligibility Guide [PDF]
- Instructions for Accessing Members Only
- Instructions for Closing Agents [PDF]
- Income Limits for KY, OH, and TN [PDF]
- Income Limits outside Kentucky, Ohio and Tennessee
- Sample Release and Satisfaction [PDF]
- Subsidy Payoff Request Form [PDF]
- Subsidy Recapture Procedures
- Warranty Deed Example with Retention Language [PDF]
- Welcome Home Retention Language Acknowledgement for FHA Loans [PDF]
- What to Submit with the Reservation Request
- What to Submit with the Request for Payment of Reserved Funding
- Welcome Home Program Definitions
- Information for Homebuyers [PDF]