Canton Reporter

Details for the Ohio Homebuyer Plus program were recently released to the public, announced State Rep. Scott Oelslager (R-North Canton). The program, designed to help Ohioans purchase homes through specialized, tax-advantaged savings accounts, aims to empower and equip individuals and families to flourish in Ohio.

"We need to empower and equip individuals and families to be able to flourish right here in Ohio," said Oelslager. "I believe we will see many Ohioans achieve the goal of homeownership as a result of this program."

Ohio Homebuyer Plus accounts may be opened through participating financial institutions beginning in January. These accounts have certain requirements, including maintaining a minimum balance of $100 and not exceeding a balance of $100,000. They must also be used within five years.

To be eligible for the program, participants must meet the following criteria: be at least 18 years of age, primarily reside in Ohio, and exclusively use the program account money for a down payment or the closing costs of a primary residence in Ohio.

The Ohio Homebuyer Plus program will be administered by the Ohio Treasurer's Office.

The introduction of the Ohio Homebuyer Plus program aims to provide a pathway for Ohioans to achieve homeownership. By creating specialized savings accounts with tax advantages, the program seeks to make it easier for individuals and families to save for a down payment or closing costs.

State Rep. Scott Oelslager, who announced the program, highlighted the importance of empowering Ohioans to flourish in their own state. He expressed confidence in the program's ability to help many Ohioans achieve their goal of becoming homeowners.

Beginning in January, eligible participants will be able to open Ohio Homebuyer Plus accounts through participating financial institutions. These accounts will have certain requirements, including a minimum balance of $100 and a maximum balance of $100,000. The funds in these accounts must be used for a down payment or closing costs on a primary residence in Ohio.

The Ohio Treasurer's Office will be responsible for administering the program, ensuring that the funds are used appropriately and in accordance with the program's guidelines.

Overall, the Ohio Homebuyer Plus program is expected to provide a boost to the housing market in Ohio. By incentivizing saving and facilitating homeownership, the program aims to create more opportunities for individuals and families to establish roots and invest in their communities.

As the program prepares to launch, Ohioans are encouraged to take advantage of this opportunity and explore the benefits of the Ohio Homebuyer Plus program. With the support of the state government and financial institutions, achieving the dream of homeownership in Ohio is now more feasible for many individuals and families.

For additional details, please follow this link: https://ohiohouse.gov/members/scott-oelslager/news/oelslager-highlights-ohio-homebuyer-plus-program-117807