Lower your down payment with a free home grant; apply now

Couple accepting keys to new home

Applications are now being accepted at Minster Bank for our Welcome Home Grants, which provide up to $5,000 in free money toward a down payment on a home.

The available grant funds through the Federal Home Loan Bank of Cincinnati can be used toward the down payment or closing costs on a new home you are moving in to or a new home you are building.

For Tim Holt, it was the key to securing his dream home.

How $5,000 Helped Me Purchase My Dream Home

When beginning to search for a home loan, Holt decided to call on Minster Bank, a decision he doesn’t regret.

“Everyone at Minster Bank was super helpful with the homebuying process,” says Holt. “They informed me about the Welcome Home Grant, in turn allowing me to receive $5,000 in free money that I was able to use as my down payment.”

Holt spent a year looking for a home before he found the perfect one. “I didn’t want to settle, so I kept looking until I found my dream home,” he says.

Holt credits Minster Bank for helping him seal the deal. “If it weren’t for Minster Bank offering the Welcome Home Grant, I wouldn’t have been able to afford a down payment on my dream home as fast as I could,” he says.

By receiving the Welcome Home Grant, Holt was able to keep his mortgage at an affordable payment and update his new home with a few renovations.

The Process: Very Easy, Very Simple

When asked to describe the Welcome Home Grant process, Holt says, “very easy, very simple.”

“The grant process wasn’t difficult at all,” he says. “All I did was show up, sign the loan papers and I was on my way. Minster Bank took care of everything.”

Welcome Home Grant funds become available March 1 and are disbursed on a first-come, first-serve basis. “We were one of the first to apply,” Holt says. “And by doing so, we were able to receive the full $5,000.”

How to Apply for the Welcome Home Grant

Funds available starting March 1. Don’t miss your opportunity to secure funds toward a new home.

Start your application today!

Grant Details

  • Up to $5,000 per household
  • Funds available beginning March 1, 2018, on a first-come, first-serve basis
  • Any 1-4 unit property to be used as a primary residence is eligible
  • Funds may be used for new home construction
  • 95% maximum LTV on purchases


  • Homebuyers must contribute at least $500 of their own funds

  • First-time homebuyers must complete a homebuyer counseling program
  • Borrowers must maintain ownership and reside in property as their primary residence for a period of 5 years

2018 Home Income Limits

MRB (Mortgage Revenue Bond) Income Limits apply as follows:

County (partial listing) 1-2 Persons 3+ Persons
Allen $51,440 $59,156
Auglaize $53,250 $61,548
Darke $51,440 $59,156
Franklin $59,600 $68,540
Greene $50,880 $58,512
Mercer $54,880 $63,020
Miami $50,880 $58,512
Montgomery $50,880 $58,512
Shelby $51,440 $59,156

Remember: Grants awarded on a first-come, first-serve basis! Don’t wait.
Apply today!

Contact a Minster Bank mortgage officer for more information on the grant program, loan rates or our free pre-qualification program so you can shop knowing what you can afford.

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