FHLB Work Force Plus + Up to $20,000 Down Payment Assistance Grant

Updated February 23, 2025

Receive up $20,000 Mortgage Down Payment Assistance Grant!

Program Features:

FHLB Mortgage Financing Grant up to $20,000 in Forgivable Funds.

Community Partners (Employed or retired law enforcement officers, health care workers, firefighters, other first responders, veterans and active duty military or their surviving spouses.) Maximum Amount $20,000 for Community Partners.
$15,000 Maximum mortgage grant amount for Non-Community Partners.
Funds can be used for Principal Reduction, Down Payment Assistance, Closing Costs or rehabilitation costs.
Do Not have to be First Time Home Buyer to qualify for this program.
Must meet income limit guidelines
Primary Residences only.
$1000 Minimum HomeBuyer Contribution. Borrower must contribute at least $1000 towards eligible product transaction.
Borrower can receive no more than $250 cash back at closing. (Regulatory requirement).
Subject property must be located located within the Banks district. Florida, Alabama, DC, Georgia, North Carolina, South Carolina, Virginia)
Household income must be within 80.01 - 120% of Area Median Income
No Prepayment Penalty Fee if loan is paid out early.
Provide income documentation for all household members 18 and over dated within 30 days of application submission.
If homebuyer is aware of any imminent household size changes expected at the time of application submission the change should be reflected in the application.
Mortgage type available. Fixed Rate, Adjustable-rate mortgage with certain parameters,Balloon mortgages that have minimum 10 year balloon end date