SAVE FOR YOUR FIRST, NEXT OR FOREVER HOME
OHIO HOMEBUYER PLUS PLAN
The Ohio Homebuyer Plus Plan is a unique homebuyer program supported by the Ohio Treasurer's office that provides tax-advantaged savings accounts for Ohioans to use on their homebuying journey.
By opening a Merchants National Bank Homebuyer Plus Savings account, participants gain access to above-market interest rates and may qualify for certain Ohio state income tax deductions. With an Ohioan Homebuyer's Plus savings account through Merchants National Bank, you can earn 6.45% APY* and receive a $500 match** deposited to your account AND a $500 closing cost credit** after your account has been open for 6 months!
To learn more about the Ohio Homebuyer Plus Plan, visit here.
INTERESTED IN EARNING TOP SAVINGS RATES TOWARD YOUR DREAM OF HOMEOWNERSHIP?
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*Annual Percentage Yield (APY), APY subject to change
**Homebuyer Plus account must be open for a minimum of six (6) months to qualify for both the deposit credit and the closing cost credit. A matching deposit credit of $500 will be applied toward your initial account deposit. The closing cost credit will be applied toward eligible closing costs on a first position purchase mortgage originated with Merchants National Bank. The home and borrower must meet all the eligibility requirements as outlined in the Ohio Homebuyer Plus Participation Statement, as issued by the state of Ohio, and Merchants National Bank standard mortgage underwriting guidelines including credit approval. FHA and VA mortgages are excluded from the promotion. The closing cost credit has no cash value, and any unused funds will be forfeited. Closing cost credit will not count toward pre-paid fees, mortgage insurance, or non-customary closing costs. Closing cost credit cannot be combined with any other offers, discounts, or coupons. Additional restrictions may apply; speak to a mortgage loan officer for details. Please contact your tax advisor on potential income tax deductions. Program subject to change or discontinue at any time.
