Columbus, Ohio – April 30, 2024 – Ohio Treasurer Robert Sprague has unveiled plans to broaden the eligibility criteria for the Ohio Homebuyer Plus program, aiming to enable more active-duty military members stationed in Ohio to access the program’s benefits.
The proposed legislative initiative, led by State Representatives Brian Lampton (R – Beavercreek) and Nick Santucci (R – Howland Twp.), along with Senators Brian Chavez (R – Marietta) and Terry Johnson (R – McDermott), seeks to amend existing eligibility requirements. If passed, the legislation would allow active-duty military personnel stationed in Ohio, even if they reside in another state, to open accounts through Ohio Homebuyer Plus.
Treasurer Sprague emphasized the importance of extending these benefits to military personnel, stating, “The men and women of our armed forces represent the very best our nation has to offer. It’s only appropriate that those who come to the Buckeye State as part of their military service also have the ability to stay here once that service to our country is complete.”
Currently, the program requires accountholders to be Ohio residents aged 18 or older, with a primary residence in Ohio, and to use the account proceeds for the down payment or closing costs of a primary residence purchased in Ohio.
Under Ohio Homebuyer Plus, prospective homebuyers collaborate with participating financial institutions to establish savings accounts. These accounts must be utilized within five years, maintain a minimum balance of $100, and cannot exceed a maximum balance of $100,000.
In support of National Military Appreciation Month, which is observed annually in May, Treasurer Sprague underscored Ohio’s commitment to its military community. With over 800,000 military veterans, retirees, and active-duty personnel in the state, Ohio remains steadfast in its support for those who serve.
Dayton REALTORS President Kelly McCormick expressed support for the proposed expansion, particularly highlighting the significant population of active-duty military personnel in the Dayton Area. “Providing more of them with the opportunity to take advantage of this program will further increase the appeal and ability to retain those that are stationed here but want to call Ohio home,” McCormick noted.
Since its launch in January, the Ohio Homebuyer Plus program has gained considerable traction, with nearly 5,500 accounts opened to date. Over 30 financial institutions have partnered with the Treasurer’s office to offer this statewide program to Ohioans.
For more information about Ohio Homebuyer Plus and the current list of participating financial institutions, interested parties can visit the Ohio Treasurer’s website.
