Treasurer Sprague Announces Additional Ohio Homebuyer Plus Participating Financial Institutions
COLUMBUS – Ohio Treasurer Robert Sprague today announced additional financial institutions that are now participating in Ohio Homebuyer Plus, a new savings program designed to encourage homeownership in the Buckeye State.
The list of participating financial institutions now includes:
- Home Loan Savings Bank
- Richwood Banking Company
With the addition of Home Loan Savings Bank and Richwood Banking Company, there are now 10 financial institutions that have partnered with the Treasurer’s office to bring the Ohio Homebuyer Plus program to prospective homebuyers.
Ohio Homebuyer Plus offers above-market interest rates to accountholders who deposit money at participating banks or credit unions. Additionally, individuals who open an account may also qualify for certain Ohio state income tax deductions.
To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible accountholder must:
- Be an Ohio resident at least 18 years of age;
- Have a primary residence in the State of Ohio; and
- Only use the account proceeds toward the down payment or closing costs of a primary residence purchased in Ohio.
Prospective homebuyers will work with a participating bank or credit union to apply for a savings account through Ohio Homebuyer Plus. Accounts connected with Ohio Homebuyer Plus must be used within five years, maintain a minimum balance of at least $100, and cannot exceed a maximum balance of $100,000.
Ohioans interested in learning more about the Ohio Homebuyer Plus program - including the full list of participating financial institutions - should visit ohiotreasurer.gov/homebuyerplus.
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