Earn Above-Market Interest When Saving for a Home

Being an adult is more fun in a place that’s all yours.

Owning your own home is more than just a dream. It’s a life milestone and one of the best things you can do to build wealth. At First Federal Lakewood, we want homeownership to be within reach —not just someday, but soon. That’s why we’re proud to offer the Ohio Homebuyer Plus Savings Account (OHB+), a high-yield savings account with special tax advantages for Ohio residents ready to level up their living situation and make homeownership a reality within the next five years.

Whether you’re buying your first home or your next one, an OHB+ account with First Federal Lakewood not only allows your money to grow faster, but can offer you the guidance you need along the homebuying journey. 

What Exactly is Ohio Homebuyer Plus?

• A faster path to your future front door
• A high-yield savings account
• Tax advantages

OHB+ is a state-backed savings account created to help more Ohioans afford homeownership. It offers above-market interest rates and Ohio state income tax deductions to savers.

Why Open Your OHB+ Account with First Federal Lakewood?

Because choosing us means you’re saving with a mutual bank that puts community first. With an OHB+ account from First Federal Lakewood, you’ll enjoy: 

• High-interest savings: Watch your savings grow much faster than with a standard savings account.
• Easy account open: Low minimum deposit of $500
• Purpose-driven planning: Keep your home savings separate and on track with goal-focused tools and budgeting guidance from a bank who knows the local home market.
• Seamless digital experience: Track and manage your OHB+ account online and in our app, but if you need a real person, we’re here for you! By chat, email, phone, or in-branch.
• Mortgage products: When you’re ready to get preapproved, we got you! Because you’re not just saving, you’re saving for a home. 

Who’s Eligible for OHB+?

You’re eligible if you are:

• An Ohio resident age 18+.
• Plan to use the account for a down payment or closing costs on a primary residence in Ohio.
• Intend to purchase a home within five years.
• Maintain a minimum balance of $500.
• Keep the account balance under $100,000.

Reminder: You do NOT have to be a first-time home buyer to qualify!

How It Works

1. Open your OHB+ account at First Federal Lakewood.
2. Earn a higher-than-average interest rate. 
3. Save for your down payment and closing costs.
4. Take advantage of Ohio state income tax deductions*.
5. Seamlessly transition into mortgage readiness with our local lending specialists.
6. Buy your home within five years.

Own Your Future, One Smart Move at a Time

We’re excited to offer our fellow Ohioans the Ohio Homebuyer Plus Savings Account — start saving for your new home today!