Funding is provided as a 4 to 1 match; meaning if the homebuyer contributed 1,000, then FHLBank Atlanta will provide $4,000 (homebuyer would need to provide $3,750 to receive the $15,000 maximum incentive).
Home must be part of an FHLBank Atlanta member's Real Estate Owned property inventory.
Purchase price of unit cannot exceed the "as-is" market value.
If your household income is equal to or less than the 80% Area Median Income (AMI) limit, you may qualify for this incentive.
|The home must be the homebuyer’s primary residence.|
|Homebuyer must invest a minimum of $1,000 from personal resources.|
|Incentive may be used toward downpayment and closing costs.|
|Incentive is a five-year forgivable loan (Your balance is forgiven by 20% each year, at the end of five years you no longer have a balance).|
|The home may have up to 4 zoned residential units.|
|Homebuyer must use an approved lender.|
For More Information
Federal Home Loan Bank of Atlanta Community Investment Services