Local program helps home buyers with down payment - 13abc.com Toledo (OH) News, Weather and Sports

Local program helps home buyers with down payment

Posted: Updated:

A program is helping dozens of people achieve the American dream. It's called Welcome Home. Through the program people are able to get money for a down payment and of course that can mean the difference between buying and renting but its not for everyone and it has a limited run.

Tom Wulf of First Federal says its a great time to buy a home, "Obviously a higher credit score and a good amount of money for a down payment helps drastically. Most banks like First Federal do free pre-approvals, so it is worth your time to check to see if you can afford to buy a home."For some people coming up with a down payment is tough to do. That's where the Welcome Home program comes in, "It's a program that allows them to use the funds for a down payment and in some cases closing costs, with a maximum of $5,000 to a household."

In order to apply for the program you have to meet certain income qualifications and that varies county by county, "Every county in Ohio is a little different. For example, there may be different income requirements in Lucas County than in Hancock County and not everyone qualifies for this program. There are certain income limitations for people to be part of this."

The window to apply for the program opened this week, but it probably won't stay that way for long, "It is a limited program. It is a short time frame. There is no specific end date other than when the funds run out. In the past, we've run out of money in a month or two."

Wulf estimates that 30-50 homeowners have been approved for the Welcome Home program through First Federal in prior years. Once again, that is not a set number. You don't have to be a first time home buyer to take part in the program, you just can't currently own a home.

  • LocalMore>>

  • Local schools gearing up for football in new stadiums

    Local schools gearing up for football in new stadiums

    Wednesday, August 27 2014 10:47 PM EDT2014-08-28 02:47:03 GMT
    Southview Cougar fans have a lot to look forward to this football season.The bleachers, field and everything around it are brand new, a first for the school."It's cool, it's big!" said Chase Henderman, a junior at Southview."I'm pumped," Tim He, a Southview student said. "The stadium looks great and I think it's going to be great."The Cougar football team has never had a home field.Instead home games were played at Northview. "It's hard to support your team when we don't even play at our scho...
    Southview Cougar fans have a lot to look forward to this football season.The bleachers, field and everything around it are brand new, a first for the school."It's cool, it's big!" said Chase Henderman, a junior at Southview."I'm pumped," Tim He, a Southview student said. "The stadium looks great and I think it's going to be great."The Cougar football team has never had a home field.Instead home games were played at Northview. "It's hard to support your team when we don't even play at our scho...
  • West Toledo neighbors look for ways to improve quality of life

    West Toledo neighbors look for ways to improve quality of life

    Wednesday, August 27 2014 10:40 PM EDT2014-08-28 02:40:58 GMT
    Norris Finley has been the Sleepy Hollow block watch leader for six years. Besides keeping an eye on properties and suspicious activity, he also works to maintain a high quality of life. "We like to think of it as one of the better neighborhoods in Toledo," Finley tells 13abc. "I am dedicated to try and keep it that way."Other neighborhood and block watch leaders joined city and TPD officials Wednesday night. Most of them enjoy their community and say crime is an issue, but not overwhelming....
    Norris Finley has been the Sleepy Hollow block watch leader for six years. Besides keeping an eye on properties and suspicious activity, he also works to maintain a high quality of life. "We like to think of it as one of the better neighborhoods in Toledo," Finley tells 13abc. "I am dedicated to try and keep it that way."Other neighborhood and block watch leaders joined city and TPD officials Wednesday night. Most of them enjoy their community and say crime is an issue, but not overwhelming....
  • Former student sues band director and school district

    Former student sues band director and school district

    Wednesday, August 27 2014 7:11 PM EDT2014-08-27 23:11:29 GMT
    Brianna Linkfield used to attend Jefferson HighSchool. She says last yearshe witnessed her band mate being duct taped by her band director Brian Sullivan . Instead of being silent, the honor roll student says she blew the whistle and paid the price.She tells 13 ABC, "I saw it and I said to the people around me what gives him the right to abuse somebody in the middle of class....occasionally he would get very violent in class he would start throwing chairs across the room, kicking stands and ...
    Brianna Linkfield used to attend Jefferson HighSchool. She says last yearshe witnessed her band mate being duct taped by her band director Brian Sullivan . Instead of being silent, the honor roll student says she blew the whistle and paid the price.She tells 13 ABC, "I saw it and I said to the people around me what gives him the right to abuse somebody in the middle of class....occasionally he would get very violent in class he would start throwing chairs across the room, kicking stands and ...
  • Top StoriesMore>>

  • West Toledo neighbors look for ways to improve quality of life

    West Toledo neighbors look for ways to improve quality of life

    Wednesday, August 27 2014 10:40 PM EDT2014-08-28 02:40:58 GMT
    Norris Finley has been the Sleepy Hollow block watch leader for six years. Besides keeping an eye on properties and suspicious activity, he also works to maintain a high quality of life. "We like to think of it as one of the better neighborhoods in Toledo," Finley tells 13abc. "I am dedicated to try and keep it that way."Other neighborhood and block watch leaders joined city and TPD officials Wednesday night. Most of them enjoy their community and say crime is an issue, but not overwhelming....
    Norris Finley has been the Sleepy Hollow block watch leader for six years. Besides keeping an eye on properties and suspicious activity, he also works to maintain a high quality of life. "We like to think of it as one of the better neighborhoods in Toledo," Finley tells 13abc. "I am dedicated to try and keep it that way."Other neighborhood and block watch leaders joined city and TPD officials Wednesday night. Most of them enjoy their community and say crime is an issue, but not overwhelming....
  • One student taken to hospital after school bus crash

    One student taken to hospital after school bus crash

    Wednesday, August 27 2014 5:17 PM EDT2014-08-27 21:17:48 GMT
    At least one student is recovering after an accident involving a Washington Local Schools bus. A district spokesperson says the 7th and 8th grade students were on the bus when it crashed. That person could not tell 13abc how many students were on the bus when it happened.Authorities say one student was taken to the hospital as a precautionary measure. Officials are still working to figure what caused the accident.
    At least one student is recovering after an accident involving a Washington Local Schools bus. A district spokesperson says the 7th and 8th grade students were on the bus when it crashed. That person could not tell 13abc how many students were on the bus when it happened.Authorities say one student was taken to the hospital as a precautionary measure. Officials are still working to figure what caused the accident.
  • Theft at the German American Festival

    Theft at the German American Festival

    Oregon Police need the public's help to nab thieves who hit the German American Festival.

    Oregon Police need the public's help to nab thieves who hit the German American Festival.

Area Events Calendar

See It, Shoot It, Send It!