First Time Home Buyer Grant Program
The Federal Home Loan Bank of Atlanta (FHLBA) participates with approved lenders to offer First Time Home Buyer Grants to purchase properties and the money can be used for down payment and closing costs. No monthly payment is required!
1. First Time Home Buyers only (not owned a home for 3 years)
2. Owner Occupied properties only
3. Income restrictions - 80% of Area Median Income
4. Non-Occupant Co-Borrower’s are allowed. Does not count towards income restriction!
5. Home buyer counseling required (No fee to buyer)
6. Buyer must have minimum $1,000 of their own funds into the transaction
7. The funds available are a 4:1 match. For every $1 the buyer puts into the transaction the FHLBA matches with $4 up to a maximum of $5,000. A borrower who contributes $1,250 can get $5,000 from the grant program.
8. This grant is not repaid if the buyer lives in the property for 5 years. If less than 5 years there is a recapture amount to pay back
9. Single Family, Townhome or Condominium
10. FHA or VA
Presidential Bank Mortgage is an approved lender for this outstanding program.
For More Information, Contact: Joseph F. Salisbury Office: (301) 590-8911 ext. 209, Manager Cell: (301) 706-7475 NMLS# 525752 firstname.lastname@example.org
Our thanks to Joe for providing information on this program for first time home buyers.
Have a great weekend and be sure to have your camera in hand to capture those special moments. Please share photographs from your favorite places in the comments for this post.
Dahlias at Brookside Gardens IMG_5771
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs