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

Affordable Housing Program Grants

Up to $12,500 of grant funds available to first-time homebuyers and up to $15,000 of grant funds available for Community Partners towards your down payment and/or closing costs.

  • First-Time Homebuyer Affordable Housing Grants*

    First Time Homebuyers

    Buying your first home is an important milestone in your life. Freedom Federal Credit Union understands that finding the right home buying plan is as important as finding a home that fits your lifestyle.

    Freedom can help first-time homebuyers get started on the right foot by providing access to up to $12,500 in financial grants to assist with the down payment and closing costs needed when purchasing a home. Funding is available to qualified first-time homebuyers.*

    In addition to meeting eligibility requirements, the homebuyer must:

    • Contribute at least $1,000 toward the purchase of the home.
    • Occupy the home as a primary residence.
    • Complete a homebuyer education and financial literacy course specified by Freedom Federal Credit Union.

    Freedom takes pride in providing accessible and feasible financial resources and mortgage products to first-time homebuyers.

  • Community Partner Grants
    **

    Community Partners Grants

    You currently serve or have served our community with honor, so let Freedom Federal Credit Union celebrate your contribution and commitment to making our shared communities better.

    Freedom offers up to $15,000 in grants towards the down payment and closing costs of your next home purchase.

    Qualifying Applicants:

    • Current or retired law enforcement
    • Educators
    • Health care workers
    • Firefighters and other first responders
    • Veterans
    • Active-duty members of the military or surviving spouse

    Please contact our Mortgage Department to determine if you are eligible for our First Time Homebuyer or Community Partners Grants Program.

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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 $12,500 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 $12,500, 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 $15,000 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 $15,000, 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