FHLB Cincinnati is launching a pilot program, Rise Up, with $5 million in funding to provide down payment assistance to first-time, first-generation homebuyers in the Franklin County, Ohio, area. The program, which will be administered by Homeport, will offer $25,000 grants per household to be used for down payment, closing costs, or principal reduction assistance.

• Eligible homebuyers must:
  • Be a first-generation and first-time homebuyer
  • Participate in homeownership education through Homeport or a HUD-approved counseling agency
  • Have a household income less than or equal to 120 percent of the HUD-defined Multifamily Tax Subsidy Project Income Limit (MTSP) for Franklin County. The 4-person limit for Franklin County is $123,960 for 2024

• Eligible properties:
  • Single family home (1- to 4-family units)
  • Located within Franklin County
  • Taxed and titled as real estate

Mortgages for homebuyers in the program must be originated by an FHLB member financial institution or the Ohio Housing Finance Agency and are subject to a five-year retention agreement.

The Rise Up Program is now closed and no longer accepting applications. Due to the success of the program, all available funds have been used.

Thank you for your participation. We will provide notice if/when the Rise Up Program will re-open to accept applications.