Frequently asked questions (FAQs)

Oun Homes is a savings platform designed to make it easier for Americans to save for a home down payment and closing costs, with support from employers, real estate experts, and our team. Our platform combines matching capabilities, a high APY, and potential state tax benefits to help users save for their dream home faster. An Oun Homes account can help users qualify for First Time Homebuyer Savings Account (FHSA) benefits in your state.

A First-Time Homebuyer Savings Account (FHSA) is a dedicated savings account designed to help first-time homebuyers save for a down payment and closing costs. Depending on the state, FHSAs may offer special benefits such as tax advantages, making it an effective tool to support our user's journey to homeownership.

Oun Homes is designed specifically for future homebuyers, providing benefits that go beyond just saving money. While both Oun Homes and a high-yield savings account offer competitive interest rates, Oun Homes includes unique features tailored to the homebuying journey, such as: A base 2% match on account contributions Additional employer contributions, depending on your organization Potential tax benefits Exclusive discounts through our network partners Personalized savings plans to reach your homeownership goals Direct payroll deductions Additionally, Oun Homes facilitates verification of income and funds for lenders, helping make mortgage approval smoother. High-yield savings accounts don’t offer these homebuying-specific benefits or employer matching.

Yes, an Oun Homes account can help users access potential tax benefits through First-Time Home Buyer Savings Accounts (FHSAs) available in Alabama, Colorado, Idaho, Iowa, Kansas, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Oklahoma, Oregon, and Virginia, with more states signing up. These accounts are designed to support first-time homebuyers by offering tax advantages as users save for their down payment and closing costs, making homeownership more attainable. For homebuyers outside these 14 states, Oun Homes can helps users explore available grants and incentives at both the state and federal level.

No, there's no minimum initial deposit required.

You can withdraw money from your Oun Homes account at any time. If you live in a state with tax benefits, there may be penalties to withdrawing your funds without purchasing a home.

Oun Homes accounts can be used for anything related to the homebuying process including down payment, closing costs, inspections, maintenance fees, etc.