$12,500 in Your Buyers' Hands - FHLB's Game-Changing Incentive!

First Home Mortgage is now offering conventional loans paired with forgivable second liens provided by the Federal Home Loan Bank (FHLB). Eligible first-time buyers have the potential to receive $12,500, while Community Partners are extending $15,000 to our local heroes – including law enforcement, educators, healthcare workers, veterans/active-duty/surviving spouses. Additionally, there is a Community Rebuild and Restore program offering a $10,000 grant for those affected by disasters. These funds are available for use in covering down payments, closing costs, and mandatory counseling. 

Explore the full details below and be sure to pass on these opportunities to your clients!

FHLB Program Highlights

• First-time homebuyers are eligible for up to $12,500

• Community partners (including educators, health care workers, first responders, and veterans) are eligible for up to $15,000

• The first mortgage must be a fixed rate conventional loan, for purchase of a 1-unit primary residence, and made to borrowers within the eligible income limits (household income must be equal to or less than 80% HUD of median income, adjusted for family size)

Requirements

• Minimum borrower contribution is $1,000

• Other program requirements and qualifications may apply

Note: Grant Funds are not reserved until the FHLB approves application. Funds are provided on a first-come, first-served basis until exhausted. Funds become available on February 5th, 2024.

As always, we are your go-to resource for market news and mortgage updates in the DC Metro Area! Use this information as the perfect conversation starter with potential buyers or past clients. If you have any questions or want to discuss these opportunities further, feel free to reach out today.

Heather Devoto

703-517-0406

Pre-Qualify Here: heatherdevoto.com