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Ohio Homebuyer Plus Savings

Attention Future Homebuyers - Earn up to 7.33% APY1, a $250 Bonus2 , plus, Up to $425 Waived Mortgage Processing Fee3 with State Bank!

Save more for your new home with Ohio Homebuyer Plus

Ohio Homebuyer Plus makes specialized, tax-advantaged savings accounts available to eligible Ohioans to assist them on their homebuying journey. Individuals who open an account through this program will have access to above-market interest rates that will help them save and grow their money faster.

  • Minimum balance to open - $100
  • Maximum contribution - $100,000
  • Account must be used within 5 years
  • Fund a down payment or mortgage closing costs

Visit for more details. Individuals are required to review the Ohio Homebuyer Plus participation statement prior to opening the account. 

Participation Statement Frequently Asked Questions    Ohio Homebuyer Plus Application

Contact us to get started! 

1Annual Percentage Yield (“APY”) is effective as of April 5, 2024 and is subject to change without notice. This is a variable rate account and the rate may change after account opening. Minimum balance to open account and obtain APY is $100. There is a maximum account contribution limit of $100,000 and account duration is limited to 5 years. Account is subject to all requirements, terms and conditions set forth in the Participation Statement found at: Eligibility is limited to individuals 18 and over who are Ohio residents with a primary address in Ohio and a valid Social Security Number or Individual Taxpayer Identification Number. Account opening is subject to State Bank’s receipt of a completed application and approval by the Ohio Treasurer’s office.  Account funds may only be used for eligible program home purchase costs. Activity restrictions apply. This is not an offer to extend credit. Loans are subject to credit application and approval.  Individuals are limited to one Ohio Homebuyer Plus Savings account at any one time, except as allowed in the Ohio Homebuyer Plus Participation Statement. Account must be individually owned; joint account ownership is not permitted.  Normal terms and conditions apply. For complete details, visit: or contact your local State Bank office. Account availability is subject to change without notice.  

2 To earn a $250 bonus, you must make a minimum account opening deposit of $100 and maintain a minimum daily balance of $100 for 180 days following eligibility approval from the Ohio Treasurer’s office. The $250 bonus will be deposited into your Home Buyer Plus Savings account within 30 days of meeting bonus requirements. To receive this bonus, your account must not be closed or restricted at the time of payout. Offer valid on first Homebuyer Plus savings account opened at State Bank. Not valid with any other offers. The value of the bonus may be reported on the appropriate Internal Revenue Service (IRS) forms and may be considered taxable income to you. Please consult your tax adviser regarding your specific situation. State Bank reserves the right to change this offer at any time.

3 Offer valid for new Ohio Homebuyer Plus Savings account customers only. State Bank will waive your Processing Fee, resulting in a savings of up to $425, on a first-lien mortgage loan that is made for the purpose of purchasing an eligible primary residence in Ohio, and originated with State Bank within 5 years of account opening. Account must be open for a minimum of 90 days to be eligible.  offer not valid if property being purchased was under contract with a previously accepted purchase offer at the time of account opening. Borrower and home must meet all eligibility requirements set  forth in the Participation Statement, as well as State Bank’s standard underwriting guidelines. This is not an offer to extend credit. All loans are subject to credit application, review, and approval. Offer not valid on home equity loans or lines of credit. Cannot be combined with any other offers. Fee waiver has no cash value. Offer limited to one processing fee waiver per mortgage transaction and one per account. State Bank reserves the right to modify or terminate this offer at any time. Contact your local State Bank office for complete details.

Fixed Rate Loan
Mortgage Options 15 Year Fixed, 20 Year Fixed, 30 Year Fixed.
Definition A Fixed Rate Mortgage has an interest rate that does not change over the life of the loan.
Benefits Predictable loan payments, variety of terms (10-30 years), and rate flexibility.
Adjustable Rate Loan
Mortgage Options 3/1 - 10/1 ARM Programs, 7/1 Jumbo ARM.
Definition An Adjustable Rate Mortgage(ARM) has an interest rate that may change (up/down) during the life of the loan.
Benefits Lower initial monthly payments, lower rates in stable or declining markets, and flexible terms.
FHA Loan
Mortgage Options 15 Year Fixed, 30 Year Fixed.
Definition A Fixed Rate or Adjustable Rate Mortgage insured by FHA (Federal Housing Administration).
Benefits Lower down payment, fixed principal & interest payments, and flexible terms.
VA Loan
Mortgage Options 15 Year Fixed, 30 Year Fixed, VA IRRRL Loan.
Definition VA loans are fixed rate loans available to active duty and retired U.S. Military personnel.
Benefits Low or no down payment, Fixed interest rates, no monthly Mortgage Insurance, available for purchase or refinance.
Construction Loan
Mortgage Options 5/1 ARM Const-Perm, 30 Year Fixed Const-Perm, 7/1 Jumbo ARM.
Definition Construction Loans allow you to build or remodel a new or existing home.
Benefits Fixed and ARM offerings, interest only construction period, and one-time closing.