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Federal Home Loan Banks (FHLB) Homeownership Set-Aside Program Grant

Mortgages & Home Loans

Are you a first-time homebuyer interested in receiving up to $7,500 for your new home? Credit Union of America is proud to offer eligible buyers grants through the FHLB Homeownership Set-Aside Program.

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Product Details

Homebuyers must meet the following criteria:

  • First-time homebuyer — may not own or be an investor in another residence.
  • Income limits vary by county, please check with your loan officer for specific details. 
  • Home may be in rural or urban locations in Kansas.
  • Must complete homebuyer education approved by designated state organization
  • Non-occupying co-borrower and/or co-owners are not permitted.
  • No cash back may be received at closing, and no debt may be paid off at closing.
  • Loan can't close until confirmation of the reservation's income approval has been received.
  • Grant funds are forgivable at a rate of 20% per year for 5 years.

Limited grant funds are available each year.

 

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