FHL Bank Atlanta's First-time Homebuyer Product provides up to $7,500 in down payment, closing cost, and principal reduction assistance for the purchase of a home by a first-time homebuyer. Homebuyers must meet product eligibility requirements and apply for funding through a participating member financial institution.
The First-time Homebuyer Product can help you:
Differentiate yourself from the competition
Create relationships with real estate agents, builders, employers, and other industry professionals
Reach new customer markets and originate new mortgages
Reduce principal loan balance and qualify more potential homebuyers
The maximum funding per household is $7,500
The homebuyer must contribute at least $1,000
The homebuyer must have income that is less than or equal to 80% of the county area median income or the state median family income for the area, adjusted for family size as published annually by the Department of Housing and Urban Development (HUD), whichever is higher
Funding is available for owner-occupied homes located within the United States and its territories
Eligible properties include:
Owner-occupied 1-4 family properties
Manufactured and Mobile Housing
New construction (within 45 days of closing)
*Additional requirements apply. Please see the Bank's Affordable Housing Program Implementation Plan for more information.