Effective March 1, 2010 First Place Bank will have Welcome Home Funds available in the form of $5000 grants to buyers that utilize fha/va, or OHFA financing to be used towards downpayment and/or closing costs. Buyer must have accepted purchase contract in order to reserve funds.
Buyers must do Homebuyers counseling.
Buyers household must be at or below income guidelines as follows:
Cuyahoga, Lorain, Lake, Geauga or Medina counties- household with 1-2 max income $51840
Erie county household with 1-2 max income is $50640
Huron & Sandusky counties household with 1-2 max income $49120
Maximum income is derived from all employed household members!
Grants are on a first come first served basis- when the funds are gone they will not be replenished.