First Time Homebuyer
First Time Home Buyer
You may qualify for a grant amount up to $12,500 per household to first-time home buyers for funding down payment or closing costs. To be eligible for the grant, the first-time home buyer must meet these guidelines:
- Household income must be equal to or less than 80% of median income as developed by the U.S. Department of Housing and Urban Development, adjusted for family size.
- Contribute a minimum of $1,000 toward the purchase of the home
- Occupy the home as a primary residence for at least five years
Funding is available for owner-occupied homes located within the United States and its territories. FHLB funds for home buying grants are available on a first-come, first-served basis until depleted each year.