Federal Home Loan Bank (FHLB) grant application opens in March 2024

Federal Home Loan Bank Homeownership Grant

Published February 12, 2024

The Federal Home Loan Bank (FHLB) homeownership grant provides valuable financial assistance to first-time and repeat homebuyers, helping bridge the gap between the dream of homeownership and financial reality. The application opens on March 4th, 2024, and has a limited number of recipients.

What are the benefits of the FHLB grant?

Assistance for Moderate to Low-Income Households: The FHLB grant in Nebraska may specifically target moderate to low-income households, aiding those who may face challenges in entering the housing market.

Reduced Down Payment: One of the key benefits of the FHLB grant is the potential for a reduced down payment. This can significantly lower the upfront costs associated with buying a home.

Cover Closing Costs: The grant could be used to reduce closing costs for homebuyers.

Long-Term Financial Benefits: Owning a home is often considered a key element of long-term financial planning. The FHLB grant provides a steppingstone for first-time buyers to start building equity and wealth through homeownership, setting the stage for a more secure financial future.

How Do I Apply?

To apply for an FHLB grant, you’ll need to work with a lender at Midwest Bank. Contact us to inquire about the application process, required documentation, and deadlines. Be prepared to provide information about your income, employment, credit history, and the property you plan to purchase. Loan products are subject to credit approval.

For more information on other programs available to help you buy a home, please reach out to a Midwest Bank loan officer. Our team is here to help you review your personal financial situation and position you to take advantage of the best loan program for you.

Start your home buying process today!

Fill out the form, and our lenders will get back to you soon.

Subject to credit approval. Subject to terms and conditions of the FHL Bank Homeownership Set-Aside Program, including borrower eligibility requirements. Reservations are accepted on a first-come first-served basis, subject to limits through November 29, 2024. If program guidelines are not met, the subsidy may need to be repaid.

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