Affordable Housing Program Grants

Affordable Housing Program Grants

These first come first serve grants are made available annually through Freedom's partnership with The Federal Home Loan Bank of Atlanta

Apply for a Grant

Affordable Housing Program Grants

Up to $17,500 of grant funds available to first-time homebuyers and up to $20,000 of grant funds available for Community Partners towards your down payment and/or closing costs.

Plus an Extra $500 off Processing Fees!***

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Disclosures

*Freedom Federal Credit Union, in partnership with Federal Home Loan Bank Atlanta’s Affordable Housing Program (AHP) provides up to $17,500 in down payment, closing cost and principal reduction assistance for the purchase of a residential home by a first time homebuyer.  These funds are secured through a participating member financial institution and are available on a first come first served basis.  Fund availability is not guaranteed and may be withdrawn at the discretion of FHLB Atlanta at any time without prior notification. Further, each participating member financial institution is capped at a pool amount which is less than the AHP available funds.  Program eligibility is as follows but is not limited to: maximum funding per household of up to $17,500, homebuyer must contribute a minimum of $1,000, homebuyer income is less or equal to 80% of the county area median income or the state median family income for the area, adjusted for family size as published annually by the Department of Housing and Urban Development (HUD), whichever is higher.  Completion of a homebuyer counseling program provided by an FHLB Atlanta designated counseling provider. The following property types are eligible: owner occupied 1-4 family residences, townhomes, and condominiums.  Funds are subject to a 5 year retention period and borrowers will sign the AHP Homeownership Set aside Program note and security instrument.  Freedom Federal Credit Union does not warrant the availability of program funds nor an applicants’ eligibility into the FHLB Atlanta Affordable Housing Program.

**Freedom Federal Credit Union, in partnership with Federal Home Loan Bank Atlanta’s Affordable Housing Program (AHP) Community Partners provides up to $20,000 in down payment, closing cost and principal reduction assistance for the purchase of a residential home by a currently employed or retired law enforcement officers, educators, health care workers, firefighters, other first responders, veterans, active duty military, or their surviving spouse  and essential workers collectively referred to as “Community Partners”.  These funds are secured through a participating member financial institution and are available on a first come first served basis.  Fund availability is not guaranteed and may be withdrawn at the discretion of FHLB Atlanta at any time without prior notification. Further, each participating member financial institution is capped at a pool amount which is less than the AHP available funds.  Program eligibility is as follows but is not limited to: maximum funding per household of up to $20,000, homebuyer must contribute a minimum of $1,000, homebuyer income is less or equal to 80% of the county area median income or the state median family income for the area, adjusted for family size as published annually by the Department of Housing and Urban Development (HUD), whichever is higher.  Completion of a homebuyer counseling program provided by an FHLB Atlanta designated counseling provider. The following property types are eligible: owner occupied 1-4 family residences, townhomes, and condominiums.  Funds are subject to a 5 year retention period and borrowers will sign the AHP Homeownership Set aside Program note and security instrument.  Freedom Federal Credit Union does not warrant the availability of program funds nor an applicants’ eligibility into the FHLB Atlanta Affordable Housing Program

***A $500 Processing Fee discount will be applied at the time of loan settlement as a credit against the normal Processing Fee for a purchase of a primary or secondary residence.  This is a discount on new home loans, and not a cash dispersal or reimbursement for an amount already paid. This offer is a temporary promotion and may be withdrawn at any time by the lender.  This promotion does not guarantee loan approval or funding.  All normal loan approval criteria must be met to qualify for this promotional discount.  Membership eligibility applies.