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Happy couple in front of a House For sale sign

Welcome Home

Funds are available for down payments and closing costs for low and moderate income homebuyers

Program Information

Pillar Credit Union partners with the Federal Home Loan Bank of Cincinnati to offer our qualified home-buyers Welcome Home Fund grants. Welcome Home funds may be used to fund reasonable down payments and closing costs for low and moderate income homebuyers. Homebuyers may qualify for and use amounts up to a maximum of $5,000 per home, based on documented need. Veterans may be eligible to receive grants up to $7,500.

We begin taking reservations for Welcome Home funds on March 1, 2021. Buyers must have a home under contract before we can reserve funds. Funds are limited and will be utilized on a first-come first-served basis.

County Income Limits (2021 Figures)

County income limits graph
Welcome Home Grant Facts

$5,000 to use towards your down payment and/or closing costs

  • You can use this for your down payment. Whatever funds are left over can be used to go towards closing cost and prepaid expenses.
  • You can use these funds even when the sellers are paying your closing costs for you.
  • We simply apply the remaining funds to pay down the principal balance of your loan.
  • You can use these funds in conjunction with other grant fund programs.
  • You can use these funds even if you have a down payment of your own.

Credit Scores

While you do not have to maintain a certain credit score to qualify for Welcome Home Funds, you must be approved for a mortgage loan. This usually requires at least a 640 credit score.


  • You have to use at least $500 of your own money in the transaction.
  • You have to live in the home for at least 5 years. If you don’t, when you sell your home at a profit, Welcome Home will prorate the funds you have to pay back.
  • You have to obtain home buyers counseling only if you are a first time homebuyer.
  • Your earnings must fall below median income guidelines - total household income.
  • You do NOT have to be a first time home buyer.
  • You cannot own 2 homes at once. However, if you are doing a simultaneous closing you CAN qualify for the grant funds. You cannot keep your old home and buy a new one.
  • Retention language must be added to the warranty deed explaining the five year retention period.
  • More information is available online from the Federal Home Loan Bank of Cincinnati.

Contact Us

Welcome Home funds are limited and will be utilized on a first-come first-served basis. Contact Jennifer Gross for more information.

Jennifer Gross
Mortgage Loan Processor
NMLS #1919911
740.389.9960 x321


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