Earn Up To 10% APY* While You Save For A Home
Planning to purchase a home in the state of Ohio in the future? You can earn up to 10% APY* when you open an Ohio Homebuyer Plus account.
A Bigger Down Payment — Faster!
It’s true: if a home purchase in Ohio is in your plans, here’s how to earn a larger down payment faster. You get an above-market rate so you earn more while you save!
Program Requirements
- You must be an Ohio resident at least 18 years of age.
- Your primary residence must be in the state of Ohio.
- The funds in the account can ONLY be used for the down payment or closing costs of a home purchased in Ohio, with the home becoming your new primary residence.
Ohio Homebuyer Plus Rates
Rates as of Oct 16, 2024 ET.
| BALANCE | APY* | RATE |
|---|---|---|
| $0 - $99.99 | 0.00% | 0.00% |
| $100 - $9,999 | 10.00% | 9.53% |
| $10,000 - 100,000 | 5.00% | 4.88% |
| $100,000+ | 0.05% | 0.05% |
|
BALANCE
$0 - $99.99
|
|---|
|
APY* 0.00% |
|
RATE 0.00% |
|
BALANCE
$100 - $9,999
|
|---|
|
APY* 10.00% |
|
RATE 9.53% |
|
BALANCE
$10,000 - 100,000
|
|---|
|
APY* 5.00% |
|
RATE 4.88% |
|
BALANCE
$100,000+
|
|---|
|
APY* 0.05% |
|
RATE 0.05% |
The Ohio Homebuyer Plus program creates specialized savings accounts with tax advantages in order to help Ohioans on their homebuying journey. The funds in the account must be used within five years, and you must maintain a minimum account balance of $105; the account cannot exceed a maximum balance of $100,000.
Here’s another way for homebuyers to save: when you’re ready to make a purchase, you can receive $1,000 toward closing costs when you use your account to get your mortgage with Cinfed.** That saves you even more and keeps extra cash in your pocket — very handy when you’re moving into a new home!
Cinfed and the State of Ohio want to help your dream home become a reality... faster!
More questions? Review our FAQ.
Please note: individuals are required to review the Ohio Homebuyer Plus participation statement prior to opening an account through the program. You can review the participation statement here.
For more information about the program from the State of Ohio, click here.
Looking to buy your first home? Here are some helpful tips as you begin the process.
**Up to $1,000 will be applied toward eligible closing costs on a mortgage originated at Cinfed Credit Union when an Ohio Homebuyer Plus (OHP) account is used. Offer valid for OHP Savings Account members only; account must be open for a minimum of 90 days to qualify and must carry an average daily balance of at least $1,000 during the 90 days prior to the mortgage loan closing. Limit one closing cost credit per mortgage loan; multiple borrowers on one loan who may have individual OHP accounts only qualify for one closing cost credit; unused funds will be forfeited. All loans subject to approval. Offer may be modified or terminated at any time without prior notification.