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FHLB Cincinnati Welcome Home Program (TN)

Federal Home Loan Bank of Cincinnati (via member financial institutions in TN) · Statewide, Tennessee

Last verified
See what you qualify forOfficial program site →
Assistance

$10,000–$20,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is FHLB Cincinnati Welcome Home Program (TN)?

FHLB Cincinnati Welcome Home Program (TN) is a grant for homebuyers in Statewide, Tennessee, administered by Federal Home Loan Bank of Cincinnati (via member financial institutions in TN).

  • The Welcome Home Program (WHP) provides grants of $10,000-$20,000 (up to $25,000 for military/veterans) to fund down payment and closing costs for low- and moderate-income homebuyers purchasing or constructing a primary residence in TN, KY, or OH. Grants are provided by FHLB Cincinnati member financial institutions. The 5-year retention period requires pro-rata repayment if property is sold or transferred before 5 years. Each member institution may reserve up to $300,000/year. Program is annual, opening in early spring each year; 2026 cycle opened April 6 and has since closed.
  • Up to $20,000 grant (up to $25,000 for military/veterans).
  • No monthly repayment.
  • Pro-rata forgiveness over 5 years.
  • Available statewide in TN through FHLB member banks.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from Federal Home Loan Bank of Cincinnati AHP Set-Aside.

How much assistance does it provide?

FHLB Cincinnati Welcome Home Program (TN) offers between $10,000 and $20,000 in assistance.

  • Award tiers: Up to $25,000 for active-duty military, veterans, reservists, and surviving spouses of service personnel.
  • Buyer contribution: Homebuyer must pay a minimum of $500 toward the purchase of the property.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Cincinnati (via member financial institutions in TN) determines any individual award.

Do you have to pay it back?

FHLB Cincinnati Welcome Home Program (TN) is structured as a grant, so it is not repaid.

  • Repayment is triggered by Pro-rata repayment required if home sold or title transferred within 5 years of closing (retention period); amount forgiven declines 20% per year.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHLB Cincinnati Welcome Home Program (TN) is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Determined by FHLB member bank originating the first mortgage
  • A completed homebuyer education course, through HUD-approved counseling required for first-time homebuyers; program completed through FHLB member bank
  • Residency: Property must be in KY, OH, or TN (FHLB Cincinnati district)
  • DRAFT (dpa-gap-finder 2026-06-12): pending review.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

FHLB Cincinnati Welcome Home Program (TN) limits household income to 80% of the area median income, which varies by county and household size.

  • Total income for all occupants must be at or below 80% of the Mortgage Revenue Bond (MRB) income limit for the county and state where the property is located.
  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

FHLB Cincinnati Welcome Home Program (TN) caps the purchase price as follows: 1-4 unit property; limits set by FHLB member bank underwriting.

  • Eligible property types include Single Family, 2-4 Unit, Condo, Townhouse, and Manufactured.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

FHLB Cincinnati Welcome Home Program (TN) names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

FHLB Cincinnati Welcome Home Program (TN) is a federal program, so it is not limited to Tennessee.

How do you apply?

Applications for FHLB Cincinnati Welcome Home Program (TN) go through Federal Home Loan Bank of Cincinnati (via member financial institutions in TN), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved counseling required for first-time homebuyers; program completed through FHLB member bank.

  2. Contact Federal Home Loan Bank of Cincinnati (via member financial institutions in TN) to reserve funds

    Funds are reserved through First-come, first-served via FHLB member banks; 2026 program opened April 6, 2026 and is now closed, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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