Homeownership Set-aside Program

 

 

“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.

HSP Online

 

 

 

2022 HSP Details

 

  • HSP round opens March 7, 2022
  • Funds available: a minimum of $6.24 million
  • Maximum subsidy per household: $7,500 New for 2022!
  • Minimum subsidy per household: $2,500
  • Member monthly limit: $37,500 New for 2022!
  • Households may receive cash back up to $250 New for 2022!
  • A minimum contribution from the household is not required New for 2022!
  • Reservations will be accepted on a first-come, first-serve basis, subject to member limits through November 30, 2022.
  • Members that registered for the 2020 HSP or a subsequent round will automatically be enrolled to participate in the 2022 HSP and do not need to complete an HSP Registration Agreement.

 

Address:

500 SW Wanamaker Road
Topeka, KS 66606

Phone:

785.233.0507

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