Ohio Homebuyer Plus Savings

*APY – Annual Percentage Yield effective as of 10/10/24. Rates are subject to change. Interest will be paid on the portion of the daily balance that falls within each interest rate tier as follows: An Interest rate of 5.83% with an annual percentage yield of 6.00% will be paid for that portion of the daily balance that is $25,000.00 or less. An interest rate of 2.96% with an annual percentage yield of 3.00% will be paid for that portion of the daily balance ranging from $25,000.01 to $100,000.00. An interest rate of 0.01% with an annual percentage yield of 0.01% will be paid for that portion of the daily balance over$100,000.00 Assuming a maximum account balance of $105,000.00, the annual percentage yield will range from 3.58% to 6.00% depending on the balance in the account. Interest will be compounded every day and will be credited to your account every month. A minimum deposit of $100 is required to open this account. A minimum balance of $100.00 must be maintained each day to obtain the disclosed APY. The maximum contribution for this account is $100,000.00 and account duration is limited to 5 years. If the maximum contribution limits are met, no additional contributions can be made. Interest will continue to accrue on this account. There are no fees to open or maintain this account. There may be fees associated with account transactions. Each individual is limited to one (1) Ohio Homebuyer Plus Savings account. Account ownership is restricted to individual ownership only. Joint Account Ownership is not permitted. Additional terms and conditions may apply.

The Ohio Homebuyer Plus Savings Account is offered in conjunction with the Ohio Homebuyer Plus program which is established and administered by the Office of the Ohio Treasurer. This account is subject to the terms and conditions of the Participation Statement. In opening and maintaining this account, an accountholder must be an Ohio Resident at least 18 years of age and have a primary address in the State of Ohio. The funds in the Ohio Homebuyer Plus Savings account must be used exclusively for eligible program home purchase expenses of a primary residence in Ohio. Failure to comply with the terms and conditions of the Participation Statement may result in the return of funds and/or loss of tax benefits attributed to the Ohio Homebuyer Plus program. For complete details, visit: https://tos.ohio.gov/homebuyerplus or contact your local F&M Bank office. 

**To be eligible for $300 off Closing Costs for your first-lien home purchase loan: 1) Borrower must have an active qualified Ohio Homebuyer Plus Savings Account with F&M Bank that has been open for at least 180 days;  and 2) the new home purchase loan on an eligible primary residence must be originated with F&M Bank. The $300 will be applied as a credit toward the origination fee on the loan when originated. There is a limit of one (1) $300 credit toward closing costs per loan and this offer cannot be combined with other offers. This offer is subject to change without notice.  Offer only valid in conjunction with borrowers holding an Ohio Homebuyer Plus Savings Account and the borrower and property meet all eligibility requirements of the Ohio Homebuyer Plus Program Participation Statement. Offer valid on purchases only. Refinances are not eligible. Not applicable to home equity loans or home equity lines of credit. All loans are subject to credit approval, qualifications, verification of information, and acceptable appraisal.