Home Loans

Welcome Home Program

Field & Main is a proud member of the Federal Home Loan Bank of Cincinnati. Through this valued membership, Field & Main has provided numerous grants for low- and moderate-income homebuyers with the Welcome Home Program.

This grant is available to buyers purchasing a home that fits within the “low- and moderate-income” guidelines set for their county to assist with down payment and closing costs.

Because this monetary offering is a grant, this money does not have to be paid back.

How Much is the Grant?

Each grant is $20,000 for all homebuyers that qualify. However, if you are a veteran, you could potentially qualify for up to $25,000.

What is this Grant Money Used For?

This money may be used for a down payment on your new home or for closing costs. This grant money can be put toward the principal reduction of the home, but many people choose to use this grant to completely cover the cost of one large fee.

Do I Have to be a First Time Homebuyer to Qualify?

This opportunity exists for anyone who qualifies for the loan, which isn’t just first-time homebuyers. Applications for this grant are approved based on county income limitations set by the federal government.

When are Applications Accepted?

The review process for the applications will begin on March 1, 2024. The Federal Home Loan Bank will accept applications until they run out of funds for this grant program, or until Field & Main Bank reaches its grant limit, which is $500,000.

How Does the Grant Process Work?

If you’re interested in applying, email us or call one of our mortgage lenders at (888) 831-1500 to see if you qualify for the program. Keep in mind, all applicants must be willing to contribute at least $500 of their own money with their home’s purchase.

Here’s a Step-By-Step Breakdown:

  1. Make an appointment with a Field & Main Bank mortgage lender
  2. Once you have a contract, fill out the mortgage application completely
  3. Field & Main will submit your application to the Federal Home Loan Bank
  4. Upon approval, Field & Main will close the loan

Why Field & Main

We’re a community-driven bank. Your needs are our top priority. As your lender and loan processor, we make ourselves available to answer any questions that arise.

With Field & Main, our customers have access to lenders before, during, and after the loan closes. We strive to respond to our clients in a timely manner (usually within 1 business day).

If you’re interested in learning about how much your mortgage will be, find out an approximate payment amount using our mortgage calculator.

Apply for an Welcome Home Grant