Unlock Opportunity When You Purchase Your First Home

Mar 12, 2024 | Core Bank, Real Estate

Don’t miss out on your chance to make homeownership a reality! Receive up to $15,000 in a grant per household as a new home buyer with the Affordable Housing Program (AHP) to assist very low, low-, and moderate-income first-time homebuyers. Let’s make your home dreams come true together.

The Homeownership Set-aside Program (HSP) provides down payment, closing cost, and repair assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) for households purchasing or constructing homes in Colorado, Kansas, Nebraska, and Oklahoma. The HSP is provided to households as a forgivable grant with a five-year retention period.

Core Bank will work with qualified homebuyers, submit documents to FHLBank, provide the grant funds at closing, and request reimbursement of the funds after closing. Homebuyers should contact a Core Bank team member to apply for HSP grant funds.

2024 HSP Details

  • The HSP round opens on March 4, 2024
  • Funds available: $12.9 million
  • Maximum subsidy per household: $15,000
  • Minimum subsidy per household: $2,500
  • Member monthly limit: $105,000
  • Reservations will be accepted on a first-come, first-serve basis, subject to member limits through Nov. 29, 2024

Learn more about Homeownership Education from Fannie Mae. See how first-time home buyers can prepare. Get ready to turn your dreams of homeownership into reality. Be sure to discuss your options with one of Core Bank’s team of lenders. We are committed to helping you achieve your dreams, whether you’re ready to buy, build, or refinance your home.

The FHLB was passed and enacted in 1932 and provides funds to local financial institutions for them to lend to a customer in the form of a mortgage. The structure of the FHLBanks is important because it ensures local banks have access to funds to be competitive and offer a variety of loan programs to buyers.

Get your application for pre-approval in now so you can be ready for the spring season of house hunting. Let us help you with the home mortgage process so you can own your first home and achieve the American dream. Core Bank’s team of lenders are committed to helping you achieve your dreams, whether you’re ready to buy, build or refinance your home. Contact someone from our team and apply today!