Westfield Bank | Ohio Homebuyer Savings account

Save with the Ohio Homebuyer Savings account

Saving for a home just got easier with Westfield Bank. As a participating bank in the Ohio Homebuyer Plus program, you can earn above-market interest rates and qualify for tax deductions on money you save to use towards the purchase of a home in Ohio.

Deposit Amount	APY
$0.01 - $15,000.00	7.23% APY*
Balances over $15,000.00	7.23 - 4.09% APY*

If you’re in the market for a new home, you'll enjoy these benefits when you open an Ohio Homebuyer Savings account:

7.23% APY* (balances from $0 - $15,000) on deposits made into your Ohio Homebuyer Savings account
$250 deposited** into your savings account when it’s been open for 90 days and you’ve signed up for e-statements
Deductions*** on your state income tax
$250 off**** of your closing costs when you open a mortgage with Westfield Bank

Westfield Bank is proud to participate in the Ohio Homebuyer Plus program through the Ohio Treasurer’s office, as this program aligns with our mission to reinvest our deposits right here in our community. Ohio Homebuyer Plus is designed for Ohioans looking to purchase a home within the state in the near future. To qualify for an Ohio Homebuyer Savings account, you're required to:

Be a primary resident of Ohio
Be 18 years or older
Use the account funds toward the down payment or closing costs of an eligible home in Ohio in the next five years
Maintain a minimum account balance of $100 and can contribute up to $100,000

Are you ready to save more money towards your home purchase? To see if you’re eligible and to get started, contact our team today.

SAVE NOW

*Annual Percentage Yield’s (APY’s) are accurate as of December 2, 2024. Variable rates may change at any time without notice. Minimum opening balance of $100. APY’s vary by tier: for balances of $15,000 and below, 7.23% APY; for balances above $15,000, 7.23% - 4.09% APY (blended rate – varies by account balance). Fees could reduce earnings.

**To obtain the $250 reward, you must open an Ohio Homebuyer Savings account at Westfield Bank with an initial deposit of at least $100. You must maintain a minimum balance of at least $100 for 90 days and sign up for e-Statements. We will pay the bonus by crediting the qualifying amount to your new Westfield Bank Ohio Homebuyer Savings account as interest within 10 days of meeting the promotion requirements above. The amount of the bonus will be reported to the IRS as interest income.

*** Consult Tax Advisor for details.

****$250 credit towards closing cost: At the time of loan origination, a credit of $250 will be applied towards closing costs for a new home purchase financed through Westfield Bank. This offer is valid for loans meeting Ohio Homebuyer Plus program criteria AND must have a Westfield Bank Ohio Homebuyers Savings account that is active and in good standing. One offer per purchase/residence. Subject to credit approval and eligibility.