Reserve your $20,000 Welcome Home Grant today!
State Bank, in partnership with the Federal Home Loan Bank, is offering down payment and/or closing cost assistance for acquisition or construction of owner-occupied housing by low- and moderate-income homebuyers. Funds are limited so apply today.
Honorably discharged veterans or active duty military personnel may receive grants up to $25,000.
- Minimum of $10,000 up to $20,000 grant for eligible borrowers.
- Homebuyer must contribute a minimum or $500 of their own funds towards the down payment and/or closing costs.
- Applications do not have to be first-time homebuyers; however, first-time homebuyers must complete a homeownership counseling program.
- If the home is sold or refinanced within five years of the closing of the transactions, the homebuyer may be required to repay all or a portion of the funds granted.
- Funds available beginning March 1, 2024.
- Income limitations apply and vary by county.
1This list does not represent all program requirements. Grant eligibility and approval is subject to all program qualification requirements established by the Federal Home Loan Bank (FHLB). State Bank is a FHLB member financial institution. Grant eligibility is reviewed and verified by State Bank, and final approval of grant eligibility is determined by the FHLB. Funds will be available for reservation on a first-come, first-served basis beginning at 8:00 a.m. ET on March 1, 2024, and will remain available until all funds have been reserved. Grant utilization is contingent upon mortgage application, approval and consummation.
All loans are subject to application and credit approval. Terms, conditions, and loan programs are subject to change without notice. Other terms, conditions and restrictions may apply.
NMLS ID 403044