WELCOME HOME
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With Hancock Federal Credit Union's Welcome Home Program you may be eligible for up to $20,000 in grant money toward the purchase of your new home! |
Taking reservations now for Welcome Home funds that will become available March 1, 2024.
Available funds are limited.
USES OF FUNDS
Welcome Home grants are used to fund reasonable down payments and closing costs incurred in conjunction with the acquisition of owner-occupied housing by low- and moderate-income homebuyers. The grants are limited to a minimum of $10,000 and up to a maximum of $20,000. 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 a.m. ET on March 1, and will remain available until all funds have been reserved. Homebuyers must contribute at least $500 of their own funds toward down payment and closing costs (60% of these funds may be received as a gift).
Applicants do not have to be first-time homebuyers. However, all first-time homebuyers must complete a homebuyer counseling program. The counseling program must be provided by, or based on one provided by, an organization recognized as experienced in homeownership counseling. The counseling program must cover, at a minimum, mortgage financing, credit-worthiness, household budgeting, and home maintenance. Welcome Home funds may be used to pay up to $300 of the costs provided they are not covered by another funding source.
Welcome Home funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 1, and will remain available until all funds have been reserved. Homebuyers must contribute at least $500 of their own funds toward down payment and closing costs (60% of these funds may be received as a gift).
Applicants do not have to be first-time homebuyers. However, all first-time homebuyers must complete a homebuyer counseling program. The counseling program must be provided by, or based on one provided by, an organization recognized as experienced in homeownership counseling. The counseling program must cover, at a minimum, mortgage financing, credit-worthiness, household budgeting, and home maintenance. Welcome Home funds may be used to pay up to $300 of the costs provided they are not covered by another funding source.
*Contact a Mortgage Loan Originator for more details. Program offered through Federal Home Loan Bank of Cincinnati.
HFCU NMLS# 442112
