Personal Savings
Ohio Homebuyer Plus
A savings plan for Ohioans.
CD's
Make a reliable investment that guarantees a return.
ICS and CDARS
Access FDIC Insurance on multi-million dollar CDs and large deposits.
Money Market
A secure investment in your long-term vision.
IRA's
Build the retirement you are dreaming of.
First Savers
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Savings Club
Helps you avoid the stress of holiday spending.
Ohio Homebuyer Plus
In conjunction with the Ohio Treasurer’s office, First Federal Savings is pleased to offer Ohio Homebuyer Plus to our customers. Ohio Homebuyer Plus makes specialized, tax-advantaged savings accounts available to Ohioans to assist them on their home buying journey. Individuals who open an account through this program will have access to above-market interest rates that will help them to save and grow their money faster.
Participants must:
- Be a resident of the State of Ohio
- Be at least 18 years of age
- Have a primary address in Ohio
- Use account funds toward the down payment or closing costs of a primary residence in Ohio
- Review the Ohio Homebuyer Plus Participation Statement prior to opening the account
Effective 6/11/2024
Account Name
Minimum Deposit To Open
Minimum Balance^
Interest Rate+
Annual Percentage Yield+
Ohio Homebuyer Plus
$100
$100
6.00%
6.16%
^Minimum daily balance to obtain APY (the amount of principal in the account each day). Refer to your Truth in Savings disclosure for specific account information.
+Rate subject to change daily.
Key Features
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The program is not only for first time homebuyers.
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Receive a dollar for dollar match on your initial deposit up to $250 as a bonus once you are approved by the State of Ohio for participation in the Ohio Homebuyer Plus program. Bonus amount is subject to 1099-INT tax reporting.
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Receive up to $1,000* as a loan closing credit at the time of closing if your loan is originated at First Federal, with a maximum of $1,000 credit per loan.
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Deposits to the account may be State of Ohio tax deductible, up to $5,000 annually. Please refer to your tax advisor.
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Grow savings with additional contributions and interest for up to 5 years. Account balance must be used within 5 years of account opening toward qualified home purchase.
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Contributions made by an accountholder’s parent(s), spouse, sibling(s), stepparent(s), or grandparent may be taken as a deduction on their Ohio income tax return.
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Two individuals currently residing at the same address may each open an account.
Additional Information
*In order to qualify for $1000.00 loan closing credit, your Homebuyer Plus account must be opened at First Federal Savings and remain open for 90 days.The account ownership must be single ownership ONLY. There is no monthly service charge. The minimum amount to open is $100. The minimum balance to maintain the account is $100 within the first 2 years. The minimum balance to maintain the account is $500 by the end of 3 years. The maximum balance at any time is $100,000 (excluding earned interest). The rate will generally be higher than our current deposit rates; please refer to the deposit rate sheet. Two individuals currently residing at the same address may each open an account. Accounts are portable between Financial Institutions. The accountholder is responsible for closing their existing account and transferring the funds to their new financial institution within 90 days. There is a 1 year waiting period to open a new account, if the funds are not ported to a new FI within 90 days, after the initial account has been closed. Only 1 account may be opened at any time, at any FI, per accountholder. If, for any reason, the State Treasurer’s Office denies the application, the funds must be removed from the Homebuyer Plus Money Market account.
CD's
First Federal Savings has been a pillar of confidence in our community for decades. Today, we continue to take pride in offering the steady confidence you need to build the future you dream of. Certificates of Deposit (CD’s) are a highly reliable investment that guarantees a return, empowering you to grow your savings and reach greater financial security.
Effective 7/15/2024
Account Name
Minimum Deposit To Open
Minimum Balance^
Interest Rate+
Annual Percentage Yield+