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The Treasurer wants to expand eligibility for the Home Buyer Program

COLUMBUS, Ohio – Ohio Treasurer Robert Sprague announced his plans to expand eligibility for active military personnel to take advantage of “enhanced interest rates” through the Ohio Homebuyer Plus program, according to a press release from his office.


What you need to know

  • Ohio Treasurer Robert Sprague announced his plans to expand eligibility for active military personnel to receive “enhanced interest rates” through the Ohio Homebuyer Plus program
  • The bill would be expanded to “allow active military members who reside in another state – but are currently stationed in Ohio – the opportunity to open accounts through Ohio Homebuyer Plus.”
  • Since the program launched in January, the release said 5,500 accounts have been opened and the treasurer's office has worked with 30 financial institutions

The legislation being introduced seeks to expand it to allow “active duty military members who reside in another state – but are currently stationed in Ohio – to open accounts through Ohio Homebuyer Plus.”

According to the press release, the legislation is supported primarily by Brian Lampton, R-Beavercreek, and Nick Santucci, R-Howland Township, in the House of Representatives, and Brian Chavez, R-Marietta, and Terry Johnson, R-McDermott, in the Senate.

“The men and women of our armed forces represent the best our nation has to offer,” Sprague said in the release. “It is only fitting that those who come to the Buckeye State as part of their military service also have the opportunity to remain here once their service to our country is complete. Ohio Homebuyer Plus would be a great advantage for them if they want to put down permanent roots here in Ohio.

The Ohio Homebuyer's Plus section of the treasurer's website describes the program as creating “tax-advantaged savings accounts” to help Ohioans buy a home. Those who open one of these accounts can receive “above-market interest rates” and are eligible for some state income tax deductions.

The Office of the Treasurer's notice lists the current eligibility requirements for one of these accounts as follows:

  • “Be at least 18 years old and an Ohio resident.
  • have a primary residence in the state of Ohio; And
  • Use account proceeds only for the down payment or closing costs of a primary residence purchased in Ohio.

“The future of our state depends on the strength of its people,” Sprague said in the news release. “Just as Ohio Homebuyer Plus already helps Ohio families realize the dream of homeownership, we hope to provide the same opportunities to military families stationed here.”

Since the program launched in January, the release said 5,500 accounts have been opened and the treasurer's office has worked with 30 financial institutions.

“Establishing the Ohio Homebuyer Plus savings program is a huge step toward increasing homeownership across the state of Ohio,” said Kelly McCormick, president of Dayton REALTORS, in . “With Wright-Patterson Air Force Base in our region, we have a significant number of active duty military in the Dayton area. Giving more of them the opportunity to benefit from this program will further increase the attractiveness and ability to retain those who are stationed here but want to call Ohio home.”

Anna Harden

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