ShareThisFederal Home Loan Bank (FHLBank) Funds are Available up to $7,500 Towards Down Payment and Closing Costs!
Starting yesterday January 2oth, Federal Home Loan Bank (FHLB) funds became available again. This first-time home buyer program (FHP) provides matching funds to qualified first-time home buyers. The FHP match contribution is 5-to-1. Specifically, for every $1 of contribution the home buyer provides; FHLBank will provide assistance, up to a maximum of $7,500. To receive the maximum contribution a first-time home buyers needs to contribute $1,500. I’ve had many first-time home buyers benefit from this program. In 2010 the Federal Home Loan Bank program did not start until Mid April. This year you can take advantage of this program right after you get your tax refund. So don’t delay!
Owner-occupied units that are intended as the primary residence of the home buyer are eligible for FHP funding. Eligible units include the following owner-occupied 1-to-4 family properties;
1. Townhouses
2. Condominiums
3. Foreclosed properties
4. Cooperatives
5. Manufactured and mobile housing (manufactured and mobile homes, transportable in one or more sections, which are built on a permanent frame and designed to be used as a dwelling when connected to the required utilities.
6. New construction (new construction requests are eligible when the home is within 30 days or less of the closing date for the loan.
Any first-time home buyer interested in using this program must use a participating (member) lending institution. Contact me to get a list of those members. Also if a first-time home buyer owner-occupy the property for 5 years the grant funds are forgivable. To receive additional information about the program and the guidelines contact me.
2 Responses to “Federal Home Loan Bank (FHLBank) Funds are Available up to $7,500 Towards Down Payment and Closing Costs!”
March 22nd, 2018 at 10:05 PM
I’m interested in finding out more about the grant program please email me thank you or leave me your phone number and I will definitely call you back thanks again.
March 23rd, 2018 at 7:43 PM
Christopher give me a call at 410-977-7176 for more information on the programs. The program is available now.
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