FHLB – Federal Home Loan Bank Down Payment Assistance Program

Fist of Dollars 211x300 FHLB   Federal Home Loan Bank Down Payment Assistance ProgramThe Federal Home Loan Bank (FHLB) down payment assistance progarm is not a direct government program. It is a program from its’ members of regional and community banks. Each member of FHLB allocates $1 million dollars to use towards down payment assistance. This is targeted to help low and moderate income level home buyers. FHLB down payment assistance is not offered by banks.

  • FHLB Program is for first time home buyers or must not have owned a home in the last 3 years
  • Money is interest free
  • 20% of the down payment is forgiven for every year you live in the home
  • Minimum requirement of $1,000.00 from Buyer’s own funds
  • FHLB program will match buyer’s contribution 4 to 1 match up to $5,000.00
  • Funds can be used for down payment, closing costs and or prepaids
  • After 5 years of Buyer occupying the house the total amount is forgiven
  • Income limits for this program are at or below 80% of the HUD Area Median income

Request Info FHLB   Federal Home Loan Bank Down Payment Assistance Program

 

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