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. Funding comes from Federal Home Loan Bank of Cincinnati AHP Set-Aside.

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. Homebuyer 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.

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.

FHLB Cincinnati Welcome Home Program (TN) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Determined by FHLB member bank originating the first mortgage. A homebuyer education course is required, through HUD-approved counseling required for first-time homebuyers; program completed through FHLB member bank. Residency requirement: Property must be in KY, OH, or TN (FHLB Cincinnati district).

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.

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.

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.

FHLB Cincinnati Welcome Home Program (TN) serves homebuyers purchasing in Statewide, Tennessee.

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. Funds are reserved through First-come, first-served via FHLB member banks; 2026 program opened April 6, 2026 and is now closed. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.