Welcome Home Program

A couple painting their new home.
The 2025 Welcome Home Grant is now closed. Thank you for your interest! Check back in early 2026 for updates on next year’s program.

What is the Welcome Home Grant Program? 

Federal Home Loan Bank (FHLB) of Cincinnati, through Member financial institutions, is offering grants of up to $20,000 for eligible homebuyers to help with down payment and closing costs.* This “Welcome Home Program” is a fantastic option for eligible homebuyers. As a Member financial institution, Paducah Bank is available to accept applications for this program.
Apply Using Our Paducah Bank WOW Mortgage App
Learn More

Eligibility Requirements for Homebuyers

To be eligible for the Welcome Home grant, the following homebuyer guidelines must be met:

  • Total income for all occupants who will reside in the home is at or below 80 percent of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located;
  • The homebuyer must contribute at least $500 of their own funds towards down payment and/or closing costs;
  • If the applicant is a first-time homebuyer, a satisfactory homebuyer counseling course is completed prior to the loan closing (Applicants do not have to be first-time homebuyers);
  • A fully executed (signed by buyer and seller) purchase contract on an eligible property is in hand.

Eligibility Requirements for Property

To be eligible for the Welcome Home grant, the following property guidelines must be met:

  • The property will be the homebuyer’s primary residence;
  • The property is a single family, condominium, townhome, multi-unit (up to four family units), duplex, or a qualified manufactured home which may be eligible if it is taxed as real estate and affixed to a permanent foundation; and,
  • The property is subject to a legally enforceable five-year retention mechanism, included in the Deed or as a Declaration of Restrictive Covenants to the Deed, requiring the FHLB Cincinnati be given notice of any refinancing, sale, foreclosure, deed in-lieu of foreclosure, or change in ownership during the five year retention period.

Beginning March 3, 2025

For more information about utilizing the Welcome Home Program through Paducah Bank, please call

Rachel Worley (NMLS #2017289) at 270.575.5731,
Michele Luksic (NMLS #1921616) at 270.575.6647.


*Funds are limited and will be awarded on a first-come first-served basis. Applicants who meet eligibility requirements will be submitted to FHLB. FHLB will issue approval letters.

Please contact a Paducah Bank Relationship Manager for your specific income requirements.