Homeownership Assistance Programs

• No down payment required if you qualify for the program 
• 360 Month, fixed rate loan with low monthly payments
• No private mortgage insurance (PMI) required
• Gift or grant is allowed if needed

Heartland Bank is a proud participant of the Ohio Homebuyer Plus program, to help qualified Ohio residents achieve their dream of homeownership. An Ohio Homebuyer Plus Savings Account offers above market interest rates and may also qualify for certain Ohio state income tax deductions².

To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible accountholder must:

• be a resident of the State of Ohio
• be at least 18 years of age
• have a primary residence in the State of Ohio
• only use the account proceeds toward the down payment or closing costs of a home purchase in Ohio

Accounts connected with Ohio Homebuyer Plus must be used within five years, maintain a minimum balance of at least $100 (accounts opened on or before March 31, 2025) or $500 (accounts opened on or after April 1, 2025), and cannot exceed a maximum balance of $100,000.

Launch is a grant program from the Federal Home Loan Bank of Indianapolis that helps first-time homebuyers with assistance for down payment, closing, and housing counseling costs when purchasing a primary residence. Launch funds are exclusively available to households that work with an FHLBank Indianapolis member financial institution, like Heartland Bank.

• Qualified households may receive up to $20,000 in down payment assistance.
• Launch grant funds cannot be requested for more than 20% of the purchase price of the home. For example, if the purchase price is $60,000, the maximum grant amount that can be requested is $12,000. 

• The grant is available for purchases in Franklin County, outside the political jurisdiction of Columbus
• Funds are available up to $15,000 for a 5% down payment and closing costs
• In-person, 8-hour homebuyer class required for this grant that should be started prior to your home search

• Down payment assistance of 2.5% or 5% of the purchase price
• Assistance can be applied toward down payments, closing costs or other pre-closing expenses.
• Mortgage tax credit program cannot be used with OHFA down payment assistance

• This is a grant, not a loan, so there is no second mortgage on your home
• No restrictions on reselling your home or refinancing your mortgage
• Receive instant equity in the new home
• Income limits are based only on the borrower, not the household
• 3, 4, or 5% down payment assistance options provide more flexibility

• Down payment requirement of as little as 3%, offering a $2,500 closing cost credit
• Borrowers must qualify under Freddie Mac’s low-income guidelines
• For loan-to-value (LTV) ratios over 90%, the mortgage insurance coverage requirements are reduced

• Income Eligibility: Borrower income must be at or below 100% of the Area Median Income (AMI).
• Competitive Interest Rates: Offers competitive interest rates on the second mortgage.
• Mortgage Tax Credit Compatibility: Can be paired with the Mortgage Tax Credit for potential tax savings.

• Low down payment of 3.5%
• No income limits on borrowers
• Must be primary residence
• Appropriate for borrowers who need more flexible guidelines

• 100% financing with no down payment requirements
• 30-year loan terms with fixed interest rates
• Primary residence only
• Home must be located in an eligible area for USDA financing
• Annual income limits apply

• 100% financing with no down payment required for military veterans
• Lower interest rates and lower monthly payments
• VA funding fee may be included in loan amount
• No annual income limits