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In conjunction with the Ohio Treasurer’s office, Hancock Federal Credit Union is pleased to offer Ohio Homebuyer Plus to our members. Ohio Homebuyer Plus makes specialized, tax-advantaged savings accounts available to Ohioans to assist them on their homebuying journey. Individuals who open an account through this program will have access to above-market interest rates that will help them to save and grow their money faster.
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Ohio Homebuyer Plus Requirements
- To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible accountholder must:
- be a resident of the State of Ohio
- be at least 18 years of age
- have a primary residence in the State of Ohio
- only use the account proceeds toward the down payment or closing costs of a home purchase in Ohio
- Accounts connected with Ohio Homebuyer Plus must be used within five years, maintain a minimum balance of at least $500, and cannot exceed a maximum balance of $100,000.
Account Type |
Minimum Opening Deposit |
Dividend Rate |
APY* |
Ohio Homebuyer Plus |
$500 |
6.890% |
7.132% |
Open an account today at Hancock Federal Credit Union!
Please note: Individuals are required to review the Ohio Homebuyer Plus participation statement prior to opening an account through the program.
*APY=Annual Percentage Yield. APY subject to change without notice. The account must maintain a minimum balance of at least $500 at all times. There is a maximum account contribution limit of $100,000 and account duration is limited to 5 years unless used for an Ohio home purchase as indicated in the Participation Statement. Membership eligibility is required.
1. Offer valid for Ohio Homebuyer Plus account members only. Ohio Homebuyer Plus account must be open for a minimum of 6-months to qualify for $500 credit, or 3 months for a $250 credit to be applied at closing. Credit applies to eligible closing costs on a first-lien mortgage loan that is made for the purpose of purchasing an eligible primary residence in Ohio, and originated with Hancock Federal Credit Union within 5 years of account opening. Offer limited to one closing cost waiver per mortgage transaction and one per account. All loans subject to credit approval; additional restrictions may apply, speak to a mortgage originator for details. Subject to change without notice.
2. To earn the deposit match bonus of up to $200, 1) Open an Ohio Homebuyer Plus account with at least $500, 2) Maintain a minimum balance of $500 for 90 days after application approval from the Ohio Treasurer office, 3) Have a new or existing share draft account with payroll direct deposits during the first 90 days. The bonus will be the lesser of your account balance or $200 and will be deposited into your share draft account within 30 days after meeting all requirements. Both accounts must be open and in good standing at the time of the bonus payment. Limit one bonus per social security number. The bonus may be taxable; consult your tax advisor.
1. Offer valid for Ohio Homebuyer Plus account members only. Ohio Homebuyer Plus account must be open for a minimum of 6-months to qualify for $500 credit, or 3 months for a $250 credit to be applied at closing. Credit applies to eligible closing costs on a first-lien mortgage loan that is made for the purpose of purchasing an eligible primary residence in Ohio, and originated with Hancock Federal Credit Union within 5 years of account opening. Offer limited to one closing cost waiver per mortgage transaction and one per account. All loans subject to credit approval; additional restrictions may apply, speak to a mortgage originator for details. Subject to change without notice.
2. To earn the deposit match bonus of up to $200, 1) Open an Ohio Homebuyer Plus account with at least $500, 2) Maintain a minimum balance of $500 for 90 days after application approval from the Ohio Treasurer office, 3) Have a new or existing share draft account with payroll direct deposits during the first 90 days. The bonus will be the lesser of your account balance or $200 and will be deposited into your share draft account within 30 days after meeting all requirements. Both accounts must be open and in good standing at the time of the bonus payment. Limit one bonus per social security number. The bonus may be taxable; consult your tax advisor.
