2020 Homeowner Assistance Products

Posted: January 22, 2020

Deadline: December 31, 2020

Grantor: Federal Home Loan Bank of Atlanta (FHLBank Atlanta)

Additional Information
Federal Home Loan Bank of Atlanta (FHLBank Atlanta) funding for its 2020 Homeowner Assistance Products is now available. The Homeowner Assistance Products are part of FHLBank Atlanta’s Affordable Housing Program (AHP) and are designed to help eligible borrowers purchase or rehabilitate their home.

2020 Homeowner Assistance Products include
  • First-time Homebuyer Product: The First-time Homebuyer Product provides up to $5,000 in down-payment, closing-cost, and principal reduction assistance for eligible first-time homebuyers.
  • Community Partners Product: The Community Partners Product provides up to $7,500 in down-payment, closing-cost, and principal reduction assistance for homebuyers who are currently employed or retired law enforcement officers, educators, firefighters, health care workers, and other first responders.
  • Foreclosure Recovery Product: The Foreclosure Recovery Product provides up to $15,000 in down-payment, closing-cost, and principal reduction assistance for eligible homebuyers purchasing properties from the Real Estate Owned inventory of any FHLBank Atlanta member financial institution.
  • Community Rebuild and Restore Product: The Community Rebuild and Restore Product provides up to $10,000 in funding for the rehabilitation of an existing owner-occupied home in a “Major Disaster Declaration” area as designated by the Federal Emergency Management Agency (FEMA). The homeowner must have at least 30 days of current ownership by life estate or full interest in the fee title and have ownership of the subject property at the time of the “Major Disaster Declaration.”
  • Veterans Purchase Product: The Veterans Purchase Product provides up to $7,500 in down-payment, closing-cost, and principal reduction assistance for homebuyers who are veterans or active-duty members of the U.S. military, their spouses, or their surviving spouses.
  • Returning Veterans Purchase Product: The Returning Veterans Purchase Product provides up to $10,000 in down-payment, closing-cost, and principal reduction assistance for homebuyers who are currently serving or have served in an overseas military intervention for any branch of the U.S. military, their spouses, or their surviving spouses.
Eligibility
Eligibility criteria vary by program. Information on eligible borrowers, maximum subsidies, borrower minimum contributions, eligible use of funds, and eligible properties is available here.

Program Contact
Peter E. Garuccio
Federal Home Loan Bank of Atlanta
Email: pgaruccio@fhlbatl.com
Phone: (404) 888-8143

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