Welcome Home Program

Couple Reviewing Financial Plans

What is the Welcome Home Program?

The Welcome Home Program offers grants of up to $7,500 for veterans or active duty military personnel and $5,000 for all other homebuyers to fund reasonable down payments and closing costs incurred in the acquisition of owner-occupied housing by low- and moderate-income homebuyers.

These grants are only available to banks that choose to participate in the program and that are members of The Federal Home Loan Bank of Cincinnati. Peoples Federal Savings and Loan is pleased to provide this grant opportunity to our qualified borrowers.

How do I qualify for the Welcome Home Program?

  • Household income limits apply
  • Must contribute $500 toward the down payment
  • Buyer must intend to occupy the residence
  • If the borrower sells within the first 5 years, they may be subject to paying back a prorated portion of the grant
  • First-time homebuyer is defined as anyone who has not owned a home in the three-year period prior to purchasing the property. Exceptions may apply.

How do I apply for the Welcome Home Program?

There are a few steps you must take in order to successfully apply for the program:


  • Meet with a loan officer before you begin the purchasing process or apply for a loan. This meeting will help you know how much money you can expect to borrow before you put an offer on a home.
  • Click here to meet our loan officers and schedule your meeting today.


An eligible property must meet the following guidelines:

  • The property will be the homebuyer’s primary residence.
  • The property is a single family, condominium, townhome, duplex, multi-unit (up to four family units) or a qualified manufactured home.
  • A legally enforceable five-year retention mechanism, included in the Warranty Deed or as a Declaration of Restrictive Covenants to the Warranty Deed, is subject to the property. The retention mechanism requires the FHLB Cincinnati to be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five-year retention program.


Homebuyer completes a loan application with a FHLB member.

Click here to apply through Peoples Federal Savings and Loan.


Peoples Federal Savings and Loan will determine loan eligibility and submit an online Reservation Request to the FHLB.

Please allow up to 4-6 weeks for review and approval of the grant request.


FHLB will review the request and issue an approval letter.


Peoples Federal Savings and Loan closes their loan and records the retention language in the warranty deed.

 Don’t qualify? That’s OK- we have an option for you!