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: $1,571,449.11 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.

 

 

2021 HSP Details

  • HSP Round opens March 1, 2021
  • Funds available: a minimum of $4.59 Million
  • Maximum subsidy per household: $5,000
  • Minimum subsidy per household: $2,500
  • Reservations will be acceptd on a first-come, first-serve basis, subject to member limits through November 30, 2021, pending availability of funds. Disbursement requests must be submitted by members to FHLBank within 90 days of reservation approval.
  • Members that registered to participate in the 2020 HSP, will automatically be enrolled to the 2021 HSP and do not need to complete an HSP Registration Agreement.

HSP Online

 

 

 

Address:

500 SW Wanamaker Road
Topeka, KS 66606

Phone:

785.233.0507

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