FHLB Cincinnati to Launch Hundred Homes Initiative April 1

March 21, 2025

On April 1, 2025, FHLB Cincinnati will launch the Hundred Homes Initiative which will offer $5 million in funding to move 100 households living in mobile homes constructed before June 15, 1976 into updated housing. The program offers $50,000 grants per household to be used for downpayment, closing costs, principal reduction assistance, purchase of land (as needed), disposal and/or recycling of vacated mobile home, and any legal work and fees necessary to decommission the old home and salvage the title.

On June 15, 1976, HUD updated requirements for mobile homes to meet specific safety and construction standards—marking the transition from mobile homes to manufactured housing. These standards ensured manufactured housing after this date was stronger, more fire and wind resistant and energy efficient. The Hundred Homes Initiative looks to improve the quality of housing stock in FHLB Cincinnati’s district of Kentucky, Ohio and Tennessee.

To participate in the program, members must:

  • Partner with a nonprofit housing developer.
  • Ensure each grant of $50,000 is requested and used in its entirety.
  • Submit the Reservation and Funding Requests and necessary documentation through FHLB Cincinnati’s Members Only portal.
  • Adhere to additional program requirements as outlined in the user guide.

Eligible homebuyers must:

  • Own and reside in a mobile home constructed prior to June 15, 1976.
  • Have a household income less than or equal to 120 percent of the Mortgage Revenue Bond Limit for the county in which the new home is located.
  • Be subject to a 5-year forgivable retention mechanism, with the new home being taxed and titled as real estate on a single-family home.
  • Contribute $500 of their own funds to the down payment.
  • Work with the sponsor to provide certification from a third-party company of the destruction or decommission of the mobile home being replaced.

If financed with a permanent mortgage, the mortgage must originate from any FHLB Cincinnati member, a federal government agency or enterprise, a state government agency or enterprise, or be a sponsor (nonprofit housing development organization) provided mortgage.

Additional information and program details are available on our website at www.fhlbcin.com. If you have immediate questions about the program, please call our Housing & Community Investment Department at 888-345-2246, email hhi@fhlbcin.com or contact your relationship manager.