Program Basics

  • Provides up to $10,000 in down payment and closing costs for the purchase of a primary residence.
  • Honorably discharged veterans, active duty military, reservists, and surviving spouses of service personnel may
    receive up to $15,000 for down payment and closing costs assistance for the purchase of a primary residence.
  • Program is designed to assist low-to-moderate income buyerss. Income limits vary by county.
  • FHLB Members must originate the first mortgage, but loans may close in a third party’s name.
  • Grant funds are reserved for specific homebuyers who have a home under a fully executed contract.
  • Members complete the web-based WHP reservation online and upload documents to FHLB.
  • WHP grants are exhausted quickly.
  • Buyers must contribute $500 cash and are subject to a 5-year deed restriction.
  • First-time homebuyers must complete homeownership counseling.

Application Time Frame

  • July 6, 2022, WHP Online Reservation portal opens at 8:00 AM EST.
  • WHP Reservation window closes based on demand.

Reserving Welcome Home Funds

  • Funds may be reserved via the Welcome Home portal on the FHLB Member’s Only website for Member’s
    customers who have a home under contract and a known mortgage structure.
  • The following documentation must be uploaded and submitted with each request:
    • A completed signed, and dated Uniform Residential Loan Application
    • Third party documentation for all sources of current year income for all persons who will reside in the home.
      A DD214 is required for veterans requesting $5,001 or greater. Certification of Eligibility (COE), DD214,
      and/or death certificate are required for surviving spouses of service personnel.

Disbursement of WHP Grant Funds

  • WHP funds are disbursed after closing. Closing instructions for Members/Closing Agents are available.
  • For Disbursement of funds, Members use the WHP portal and submit the following:
    • The executed Closing Disclosure, showing the Welcome Home grant amount.
    • A copy of the recorded Warranty Deed or Restrictive Covenant with the WHP retention language.
    • If an FHA loan, submit “Welcome Home Retention Acknowledgement for FHA Loans”
    • A copy of the homebuyer counseling certificate, if a first-time homebuyer.

Other Important Information

  • No cash back at closing for any reason including refund of earnest money. No refinance of consumer debt. If the closing disclosure indicates funds were used for an ineligible purpose the WHP grant reimbursement will be reduced by a like amount. No loan co-signers.
  • WHP is not intended for purchases requiring significant repair or rehabilitation. Any escrow $500 and over must have pre-approval from FHLB.


Visit the FHLB website for more details about the Welcome Home Program.

To locate a South Central Bank lender near you, CLICK HERE.

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Available to residents of Kentucky, Ohio, and Tennessee