FHLB First-Time Homebuyer Grant
(Homeownership Set-Aside Program)
HSP Details
• HSP round opens March 6, 2023
• Funds available: a minimum of $4.5 million
• Maximum subsidy per household: $7,500
• Minimum subsidy per household: $2,500
REMINDERS
• Must complete Homebuyer Education prior to closing (dated Jan
2022 or later)
• Income limits differ by county – check FHLB website at time of
application – 1-4 & 5-8 person income limits as of 09-01-22
o Clay $60,500 / $79,850
o Cloud $58,250 / $76,900
o Pottawatomie $68,100 / $89,900
o Riley $68,100 / $89,900
o Shawnee $66,150 / $87,300
o Wabaunsee $66,150 / $87,300
All household members must be included on application
Non-owner occupied Co-borrowers or co-owners NOT allowed
o (Can’t put parents on the loan as co-borrower to qualify loan)
Cash Out for repairs/updates or debt consolidation NOT allowed
Allow 3 weeks for Grant Approval
