FHLB Welcome Home Program Mortgage
FHLB Down Payment Assistance: 2025 Welcome Home Program Grant
Get down payment and closing cost assistance for affordable housing in your community with the FHLB Welcome Home Program Mortgage from 1st National Bank. Apply for the Welcome Home Program grant today to learn if you qualify.
About the FHLB Welcome Home Program
The FHLB Welcome Home Program grant offers grants up to $20,000 for all eligible homebuyers. The grant money can be used for down payment or closing cost assistance, making it easier for you to own a home. First, you must qualify for a mortgage loan with us.
FHLB Welcome Home Program Mortgage Eligibility & Qualification Requirements
To qualify for the grant:
- Your total household income must be at or below 80% of the Mortgage Revenue Bond (MRB) limit for the county and state where the property is located.
- You also need a fully executed purchase contract on an eligible property and at least $500 of your own funds to contribute towards the down payment and/or closing costs.
- If you are a first-time homebuyer, you need to complete a satisfactory homebuyer counseling course prior to loan closing. Note that applicants do not have to be first-time homebuyers.
- The eligible property must be your primary residence, and it can be a single-family, townhome, condominium, duplex, multi-unit (up to four-family units), or a qualified manufactured home (if taxed as real estate and affixed to a permanent foundation).
- The property must also have a legally enforceable five-year retention mechanism, which makes owning a home more secure for you and your family.
Still have quesitons about the Welcome Home Program?
At 1st National Bank, we’re committed to making the homebuying process as easy as possible for you. Our experienced mortgage bankers will guide you through the application process.
Contact us today to learn more about the FHLB Welcome Home Program Mortgage and take the first step towards homeownership.