Save for a Home with the Ohio Homebuyer Plus Savings Account

The Ohio Homebuyer Plus program is a high-interest savings account that allows you to reach your homeownership goals faster—whether you’re buying your first home or your next one!

Begin the Application Process Schedule an Appointment 

Why Open an Ohio Homebuyer Plus Account?

Earn Above-Market Interest

Eligible savers can earn up to 6.17% Annual Percentage Yield (APY) on savings.

Low Opening Deposit

Open your account with just $500.

Purchase Within Five Years

This account is ideal for savers who plan to buy a home in the next one to five years. 

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How It Works

  1. Fill out the form below—a member of our team will reach out to help you open your account.
  2. Save at your own pace while earning a higher interest rate.
  3. When you’re ready to buy, apply for your mortgage  through us and get $100 off closing costs.*
  4. Move in and celebrate your new home!

Current Ohio Homebuyer Plus Savings Account Rates

Rates accurate as of 7/20/2025
All rates and terms subject to change without notice.

BalanceInterest RateAnnual Percentage Yield (APY)
$0-$2,4996.00%6.17%
$2,500 – $24,9995.00%5.12%
$25,000 – $100,0004.00%4.07%

Begin the Application Process Schedule an Appointment 

Ohio Homebuyer Plus Requirements

To qualify for an Ohio Homebuyer Plus account, an eligible account holder must:

  • Have a primary residence in the State of Ohio
  • Be at least 18 years of age

Ohio Homebuyer Plus accounts must: 

  • Have a minimum balance of $500 to open
  • The account may not exceed a maximum contribution of $100,000
  • Be used within five years
  • Only be used toward the down payment or closing costs of a home purchase in Ohio

For more information, review the Participation Statement and other details about the program from the Ohio Treasurer’s Office here. 

Begin the Application Process Schedule an Appointment 

* To be eligible for $100 off closing costs: The borrower must have an active, qualified Ohio Homebuyer Plus Savings Account with First Federal Lakewood, open for at least 30 days and the new home purchase loan on an eligible primary residence must be originated with First Federal Lakewood. The $100 credit will be applied toward the origination fee on the purchase of a primary residence, only one $100 credit per loan is allowed. This offer cannot be combined with other offers and is subject to change without notice. All loans are subject to credit and underwriting approval. Other fees and restrictions may apply. Contact a Mortgage Loan Originator for full details.