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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 $100, and cannot exceed a maximum balance of $100,000.
Account Type |
Minimum Opening Deposit |
Dividend Rate |
APY* |
Ohio Homebuyer Plus |
$100 |
6.890% |
7.132% |
Open an account today at Hancock Federal Credit Union!
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Upon clicking the OK button at the bottom of this window you are leaving the Hancock Federal Credit Union’s website and are entering a site that is not hosted or operated by the credit union. Please be advised that you will no longer be subject to, or under the protection of the privacy and security policies of our website. HFCU does not represent either the third party or you, the member, if you enter into a transaction. We encourage you to read and evaluate the privacy and security policies of the site which you are entering which may be different than those of ours. If you have read and understand these terms please click OK to continue.
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Please note: Individuals are required to review the Ohio Homebuyer Plus participation statement prior to opening an account through the program.
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Upon clicking the OK button at the bottom of this window you are leaving the Hancock Federal Credit Union’s website and are entering a site that is not hosted or operated by the credit union. Please be advised that you will no longer be subject to, or under the protection of the privacy and security policies of our website. HFCU does not represent either the third party or you, the member, if you enter into a transaction. We encourage you to read and evaluate the privacy and security policies of the site which you are entering which may be different than those of ours. If you have read and understand these terms please click OK to continue.
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x
Upon clicking the OK button at the bottom of this window you are leaving the Hancock Federal Credit Union’s website and are entering a site that is not hosted or operated by the credit union. Please be advised that you will no longer be subject to, or under the protection of the privacy and security policies of our website. HFCU does not represent either the third party or you, the member, if you enter into a transaction. We encourage you to read and evaluate the privacy and security policies of the site which you are entering which may be different than those of ours. If you have read and understand these terms please click OK to continue.
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*APY=Annual Percentage Yield. APY subject to change without notice. The account must maintain a minimum balance of at least $100 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 $100, 2) Maintain a minimum balance of $100 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 $100, 2) Maintain a minimum balance of $100 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.
*APY=Annual Percentage Yield. APY subject to change without notice.
The Ohio Homebuyer Plus savings account will be closed after five years unless used for an Ohio home purchase as indicated on your disclosures. The account must maintain a minimum balance of at least $100 and cannot exceed a maximum amount of $100,000. Membership Eligibility is required.
The Ohio Homebuyer Plus account must be open for a minimum of 6-months to qualify for the closing costs credit. A credit of up to $500 will be applied towards eligible closing costs on a first position purchase mortgage originated with Hancock Federal Credit Union. The home and borrower must meet all eligibility requirements as outlined in the Ohio Homebuyer Plus Participation Statement, as issued by the State of Ohio, and HFCU underwriting guidelines. Limit one credit per mortgage transaction. Additional restrictions may apply, speak to a mortgage originator for details. Subject to change without notice.
The Ohio Homebuyer Plus savings account will be closed after five years unless used for an Ohio home purchase as indicated on your disclosures. The account must maintain a minimum balance of at least $100 and cannot exceed a maximum amount of $100,000. Membership Eligibility is required.
The Ohio Homebuyer Plus account must be open for a minimum of 6-months to qualify for the closing costs credit. A credit of up to $500 will be applied towards eligible closing costs on a first position purchase mortgage originated with Hancock Federal Credit Union. The home and borrower must meet all eligibility requirements as outlined in the Ohio Homebuyer Plus Participation Statement, as issued by the State of Ohio, and HFCU underwriting guidelines. Limit one credit per mortgage transaction. Additional restrictions may apply, speak to a mortgage originator for details. Subject to change without notice.