Ohio Treasurer Robert Sprague, foreground standing, discussed the Ohio Homebuyer Program with Miami County Commissioners Ted Mercer, left to right, Greg Simmons, Wade Westfall, and Chief Administrative Officer Michael Clarey on Thursday, July 25.
By Eamon Baird
TROY — Ohio Treasurer Robert Sprague stopped by the Miami County Commissioners meeting on Thursday, July 25, to discuss the Ohio Homebuyer Program.
“Thank you for your service to the great county of Miami,” Sprague said to the commissioners. “Many people in our state are struggling to be able to afford to buy a house right now and the reasons for that are manyfold.”
A few reasons Sprague mentioned included a lack of inventory, construction inflation, and interest rates.
“It just makes it tough, particularly for new families to be able to afford a house in the state of Ohio,” he said.
To qualify for the program an individual must be an Ohio resident at least 18 years old and can only use account proceeds toward the down payment or closing costs of a home purchase in the state.
“And it’s not just for first-time homebuyers,” Sprague said. “You could own an existing two-family and be moving into a condo, and you can still open up one of these accounts and use it for either down payment or closing costs. As long as it’s on a primary residence that you’re buying here in our great state.”
“It literally is one of the best investments in the United States of America right now,” he said. “So, we thought this was a great program. We opened it in the third week in January to much acclaim.”
“I’m pleased to report that as of this week, we have over 15,000 of these accounts now open for Ohioans,” he said.
Sprague also discussed legislation to allow active-duty military personnel who reside in another state, but are currently stationed in Ohio to be able to open accounts through the program.
State Representatives Brian Lampton (R – Beavercreek) and Nick Santucci (R – Howland Twp.) and Senators Brian Chavez (R – Marietta) and Terry Johnson (R – McDermott) are serving as primary sponsors of the legislative effort.
“We’re trying to get that passed. So anything you can do if you see a local state rep or a local state senator, we’d love to get that language through here by the end of the year and help our active-duty military veterans. They are the best of us, and we want to give them our very best programs,” Sprague said.
“How can we help you promote this program?” Commissioner Wade Westfall asked Sprague.
“I’ll tell you, really the banks and credit unions do it themselves,” Sprague said. “But certainly, I think any opportunity like if you have a commissioners booth of the fair.”
“A lot of these young families, they need help, and the government is not stepping in and doing it for them, we’re doing it with them,” Sprague said.
More information on the Ohio Homebuyers Plus program can be found tos.ohio.gov/homebuyerplus/.
