“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: $1,571,449.11 as of May 13, 2021
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.