🎉 The Welcome Home Grant Is Returning!

Worried about the upfront cost of buying a home?
The Welcome Home Grant may help you move into a home sooner by providing funds toward your down payment or closing costs.

The popular Welcome Home Grant is expected to return this April, offering up to $20,000 to qualified homebuyers.

Key Highlights:

  • Up to $20,000 in grant funds
  • Can be used for down payment and/or closing costs
  • Available to buyers who do not currently own real estate and have not owned within the last 3 years
  • Funds are limited and first come, first served
  • Buyers must be under contract to access funds
  • Household income limits apply

What does this mean for you?
Preparation is key. Buyers who are pre-approved and actively searching will be in the best position when funds become available.

💰 Grant Basics

  • No repayment required — this is grant money, not a loan
  • Available to first-time and repeat buyers
    • First-time buyer = no homeownership in the past 3 years

👥 Buyer Requirements

  • Buyer must contribute a minimum of $500, $300 of which can be a gift from an immediate family member
  • First-time buyers must complete a homeownership counseling program
  • All household income (anyone who will live in the home) is reviewed
  • Credit and documentation must be fully reviewed and approved

🏠 Property Requirements

  • Property must be a primary residence
  • Eligible property types include:
    • Single-family homes
    • Townhomes
    • Condominiums
    • Duplexes
    • Qualified manufactured homes
  • If the home is sold within 5 years, partial or full repayment of the grant may be required

✅ Buyer Readiness Checklist

(Don’t miss the funding window)

☑ Household income reviewed up front
☑ Credit and documentation reviewed early
☑ Pre-approval completed and kept current
☑ Buyer has at least $500 available
☑ Homebuyer education completed early (if required)
☑ Working with a knowledgeable lender and real estate professional

Hopkins County Income Limits

  • 1-2 people household: $72,096
  • 3+ person household: $84,112

 

In Madisonville, both First United Bank and Independence Bank are offering this program. Please reach out if you need lender recommendations at either of these locations. 

Let’s find your dream home and make the most of this incredible opportunity before the funds disappear!

For a flyer on the program, click here.