03/01/2024
Are you saving to purchase a home? Do you want your savings to grow faster? The State of Ohio has started a new program that gives you a higher-than-market rate of interest on your deposits. Here are details:
"Ohio Treasurer Robert Sprague announced the launch of Ohio Homebuyer Plus, a new savings program designed to encourage homeownership. Following the same “linked deposit” model used for existing programs like Ag-LINK and Family Forward, Ohio Homebuyer Plus offers above-market interest rates to account holders who deposit money at participating banks or credit unions. Individuals who open an account may also qualify for certain state income tax deductions.
To qualify for enhanced interest savings through an Ohio Homebuyer Plus account, an eligible account holder must:
Be an Ohio resident of at least 18 years of age;
Have a primary residence in Ohio;
Only use the account proceeds toward the down payment or closing costs of a primary residence purchased in Ohio.
A complete list of participating financial institutions is listed in the Ohio Homebuyer Plus section of the Ohio Treasurer website."
The Treasurer’s office is committed to helping more Ohioans achieve the dream of owning a home. We’re doing this by putting the strength of the state’s balance sheet to work for prospective homebuyers across the Buckeye State.
