FHLBank Atlanta Foreclosure Recovery Product
The Foreclosure Recovery Product is provided as a 4 to 1 match for the purchase or purchase and rehabilitation of a home. Homes must be part of any Real Estate Owned (REO) inventory of any FHLBank Atlanta member or member’s affiliate or housing associate member. The purchase of a unit cannot exceed the as-is market value. Eligible properties include owner-occupied 1-4 family properties, townhouses, condos, foreclosed properties, cooperatives, and manufactured and mobile housing.
This program reduces the amount of money you’ll need up-front to buy your home.
ELIGIBILITY & LIMITATIONS
- You must earn a homeownership counseling certificate before closing on your home.
- You must live in this home as your primary residence.
- You must use an FHLBank Atlanta-approved lender.
- You must apply and be approved prior to closing on your home. Program funds are not retroactive.
- You must contribute at least $1,000 of your own money to your home purchase.
- Household income cannot exceed 80% AMI
- Not limited to first-time homebuyers
Federal Home Loan Bank of Atlanta (FHLBank Atlanta)
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