“What we liked best about the HSP was that we could take advantage of current market interest rates, not special established interest rates, which can push first-time homebuyers out of the loan.”
Dana Ezell | Republic Bank & Trust | SVP, Director of Mortgage Administration
HSP Grant Funds Remaining: $1,523,339.88 as of May 24, 2022
FHLBank Topeka sets aside funds annually within the Affordable Housing Program (AHP) to assist very low, low-, and moderate-income first-time homebuyers.
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.
This program is a partnership with FHLBank members. Members 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 an FHLBank member to apply for HSP grant funds.