Consumer Looking for a Loan

FHLBank Atlanta's First-time Homebuyer Program (FHP) provides up to $5,000 in matching funds for the down payments and closing costs of first-time homebuyers. Since its inception in 1997, our First-time Homebuyer Program (FHP) has helped more than 18,000 families and individuals purchase homes.

Participation in the program offers members a way to access a wider customer base and originate new mortgages. Individual homebuyers who would like to access FHP funds must meet eligibility guidelines and apply for funds through a participating member financial institution.

Additional Information on Program Requirements*

  • Maximum subsidy is $5,000 per homebuyer
  • Funding is provided as a 4 to 1 match
  • The homebuyer must contribute at least $1,000
  • The homebuyer must have income that is less than or equal to 80% of HUD median income for the area, adjusted for family size
  • Purchased home must be used as the homebuyer's primary residence
  • Homebuyer must meet the definition of a first-time homebuyer as defined by the Cranston-Gonzalez National Affordable Housing Act of 1990
  • Retention period is five years
  • Borrower must complete Bank-prescribed financial literacy training
  • Home must be located in the Bank's district, which includes Alabama, the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, or Virginia
  • Eligible properties include:
    • Owner-occupied 1-4 family properties
    • Townhouses, condos
    • Foreclosed properties
    • Cooperatives
    • Manufactured and Mobile Housing
    • New construction (within 30 days of closing)

Members can access up to $1 million annually in total from all of the Bank's set-aside products.

*Other program requirements apply. Please see the Bank's Affordable Housing Program Implementation Plan for a complete description of requirements.