BELLEVUE, Ohio— Firelands Federal Credit Union said it is now offering Ohio Homebuyer Plus savings program, offered in conjunction with the Ohio Treasurer’s office.
According to the credit union, Ohio Homebuyer Plus makes specialized, tax-advantaged savings accounts available to 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 to save and grow their money faster,” Firebrands FCU said.
With an Ohio Homebuyer Plus account through Firelands FCU, members receive a savings rate of 7.25% APY, an opening deposit match up to $250 after 90 days, and a $500 closing cost credit when purchasing a home with a Firelands FCU mortgage.
What’s Required
To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible account holder must:
- Be a resident of the State of Ohio
- Be at least 18 years of age
- Have a primary residence in the State of Ohio
- Only use the account proceeds toward the down payment or closing costs of a home purchase in Ohio
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.
A ‘Game Changer’
“This savings account is a game-changer for our community,” Angela Grimmer, Firelands FCU VP-mortgage lending, said in a statement. “With top interest rates and added incentives, we’re making homeownership more attainable and are helping more families make the Firelands region their home.”