Affordable Housing Program Homeownership Set-Aside Program
We are pleased to announce that funding for the Affordable Housing Program (AHP) Homeownership Set-aside Program is now available. This program is geared to help provide families with more purchasing power as they find their dream home! These grants can be used to offset a down payment, closing costs, or to reduce the principal amount of your mortgage. Contact one of our local advisors to learn more!
First-Time Homebuyer
Eligible Borrowers |
Funds may only be made available to a “first-time homebuyer,” defined as an individual who has had no ownership in a principal residence in the last three (3) years. |
|
| Maximum Subsidy |
$12,500 | |
| Borrow Minimum Contribution |
$1,000 | |
| Eligible Use of Funds |
Down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit. |
|
| Eligible Properties |
Owner-occupied 1-4 family properties, including manufactured housing. |
Community Partners
| Eligible Borrowers |
Current or retired law enforcement officers, educators, firefighters, health care workers, and other first responders; veterans and active-duty members of the military or their surviving spouse; and covid-related essential workers. |
|
| Maximum Subsidy |
$15,000 | |
| Borrow Minimum Contribution |
$1,000 | |
| Eligible Use of Funds |
Down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit. |
|
| Eligible Properties |
Owner-occupied 1-4 family properties, including manufactured housing. |
| First-Time Homebuyer | Community Partners | |
|---|---|---|
Eligible Borrowers  | Funds may only be made available to a “first-time homebuyer,” defined as an individual who has had no ownership in a principal residence in the last three (3) years. | Current or retired law enforcement o cers, educators, firefighters, health care workers, and other first responders; veterans and active-duty members of the military or their surviving spouse; and covid-related essential workers. |
| Maximum Subsidy | $12,500 | $15,000 |
| Borrow Minimum Contribution | $1,000 | $1,000 |
| Eligible Use of Funds | Down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit. | Down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit. |
| Eligible Properties | Owner-occupied 1-4 family properties, including manufactured housing. | Owner-occupied 1-4 family properties, including manufactured housing. |
Purchase products have a five-year homebuyer retention period. The programs have a minimum $1000 homebuyer contribution. Income eligibility <= 80% of the county area median income or the state median family income, adjusted for family size as published by HUD, whichever is higher. The AHP Homeownership Set-aside Program products are available within the US and its territories through FHL Bank Atlanta shareholders. This is not a complete list of requirements for these products. For a comprehensive listing of requirements, refer to www.fhlbatl.com. Not a commitment to lend. ALL BORROWERS SUBJECT TO QUALIFICATIONS AND LOAN PROGRAM GUIDELINES. [/av_textblock]
