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We believe that everyone should have the opportunity to own their own home, and we're here to support you every step of the way. That's why we've partnered with the Ohio Treasurer to offer the Ohio Homebuyer Plus Program, a specialized savings account designed to assist Ohioans on their homebuying journey.

With the Ohio Homebuyer Plus Program, individuals can benefit from above-market interest rates, helping them save more efficiently for their future home. Additionally, account holders may qualify for certain Ohio state income tax deductions, providing even more incentive to start saving today.

  • Earn 6% [APY 6.17%]*
  • $100 minimum opening deposit
  • $100,000 maximum balance
  • Savers have up to five years to use the funds
  • Must be at least 18 years of age and a current Ohio resident
  • Funds are to be used toward down payment or closing costs on a primary residence in Ohio
  • Individually owned account & only one account per person

Do I have to be a first-time homebuyer to qualify?

No. Anyone meeting the eligibility criteria planning to purchase a home within the five-year period can open an Ohio Homebuyer Plus account.

What types of properties qualify?

Homes eligible under this savings program include:

  • A single-family home;
  • Condo
  • Unit in a multi-unit dwelling;
  • Manufactured or mobile homes (taxed as real property)

A Home must be the saver’s primary residence after the closing of the home purchase and be located in the State of Ohio.

Can I purchase a vacation home or income property with the savings in the Ohio Homebuyer Plus account?

No. Account proceeds must be used toward the down payment and/or closing costs associated with the purchase of a primary residence in Ohio.

What types of properties do not qualify?

An ineligible home includes, but are not limited to, recreational vehicles, house boats, campers, commercial real estate, and land without an existing residential building included (bare land).

Who can contribute to the account?

The account holder can make a one-time deposit or multiple deposits over the five year period.  Contributions will also be accepted from others, including a spouse, parent, sibling, stepparent, or grandparent.

Can a married couple open a joint Ohio Homebuyer Plus account?

No. Ohio Homebuyer Plus accounts must be individually owned by the saver. Two individuals who are married or currently reside at the same address can each open an account under their social security number.

Can I access the funds during the five years?

If you are ready to purchase a home before the end of the five years, you would withdraw the funds to cover the down payment and/or closing costs. Once you make the first withdrawal, you have 90 days to use the rest of the balance. Should a Saver’s Account have a small outstanding balance, currently defined as an amount equal to or less than one hundred dollars ($100), remaining in their Account after the purchase of a Home, the Financial Institution will close the Account and either 1) return the funds to the Saver or 2) deposit the funds into a new non-Ohio Homebuyer Plus Account registered in the name of the Saver. Funds not used for Eligible Withdrawals may result in State of Ohio tax reporting requirements and possible tax liabilities.

What are the tax advantages to this program?

Certain Ohio income tax taxpayers may claim the tax deduction for contributions. We highly recommend talking to a certified tax professional when considering taking advantage of any tax deductions.

What if my circumstances change or I move out of state and do not purchase a primary residence in Ohio?

If an accountholder’s circumstances change or if they move out of state, they keep all money saved as well as the interest accrued in their account. If the accountholder is no longer eligible, their Ohio Homebuyer Plus account will be closed. Funds not used for an eligible home purchase may result in State of Ohio tax reporting requirements and possible tax liabilities.


Visit for full details. Click on Getting Started to view the Participation Statement for terms or Ohio Homebuyer Plus Frequently Asked Questions.

*APY = Annual Percentage Yield. This is a variable rate account. Rates are subject to change after account opening. $100 minimum to open the account. There is a maximum contribution limit of $100,000. Account duration is limited to 5 years. See Disclosure for terms of the account.

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