Do You Want to Know More About the Ohio Homebuyer Plus Program?
Buying a home is a big commitment. There are so many questions, so many variables and so many options. Putting in the effort to upgrade your current home or move out of the apartment you’ve called home for ten years might make you want to cringe.
Even if you need time to think about your options and research the process, you could start saving today with a new program offered through the state of Ohio called the Ohio Homebuyer Plus program. Available to you at Heartland Bank, this savings program was designed to get more Ohioans into new homes by helping them save for the downpayment needed and provide a break on closing costs. You could start saving now even if you’re not ready to make any definite plans for several years.
But I already have a home…
You might own your dream home, but if you find yourself wanting a new neighborhood, a three-car garage or an acre of grass for the kids, you might consider opening a savings account under this program for the future. With exceptional options, these savings accounts are great for those who want to eventually upgrade, increase the size of their family or even accommodate a change in lifestyle.
The state of Ohio is banking on the fact that given five years to plan, those who take advantage of this program will save enough to upgrade to a home that might appeal to a newer lifestyle or meet renewed desires. Even if you have no plan to change where you live, the savings might entice you to at least look at the possibilities. Amenities that you thought were out of reach might just be something that is attainable.
Are you a college student, new grad or thinking about living on your own?
Are you still living with your parents? Are you just graduating and starting your career? Maybe you have an apartment, and the rent is going up again this year…this tax-advantaged special purpose individual savings account could be for you. Smart financial decisions are imperative for your future – you can open this account as young as 18 years old!
According to Heartland bank client Erin Ziegler, “I would recommend the program if you want to move out soon or buy a house. I found out about the program when I went in to order checks at the Whitehall branch, and the branch manager was helping me and asking questions.” Erin only knows the “basic stuff” when it comes to financial fitness, so she appreciates that her banker shared the information as she still lives at home and is saving to buy her own house.
Be prepared for what life could bring
If we had a time machine, we could plan out our entire future. Since we don’t, a program like the Ohio Homebuyers Plus program allows individuals and families to dream about their futures and prepare for the unknown. In five years, if you don’t invest in a home or new residence, the guidelines spell out the requirements very clearly. The Participation Statement explains all the parameters in detail.
On the flip side, in five years, if you go ahead and invest now, you might just be surprised at the results of your financial commitment and what you can purchase or upgrade to. With time on your side, your savings can grow – but it won’t grow if you don’t start somewhere. Do your research and talk to your banker…you’ll be glad you did!
Act now – let us help!
Time is your friend with savings accounts. Don’t delay your decision-making and wish you had reached out sooner. Visit or contact a local branch today!