We have helped many first time buyers purchase a nice home with the Federal Home Loan Bank of Atlanta grant funds. I have outlined below the basic requirements to use these funds. They are available on a first come, first served basis and it is likely that these grant funds will run out soon. Take advantage now!

Many of our first time buyers are able to purchase a home with as little as $1,000 cash needed! Contact me through the web form below and I will be in touch to guide you through the process of utilizing this or another grant program during your home purchase. - Kathy Banaszewski

2016 FEDERAL HOME LOAN BANK OF ATLANTA GRANT FUNDS GUIDELINES
Eligible use of funds:
Down-payment, closing-cost, and principal reduction assistance for the purchase or purchase/rehabilitation of an existing unit

Maximum subsidy:
$5,000.00
Matching subsidy ratio: 4 to 1
By utilizing $1,250.00 of your own funds you may be eligible to receive the maximum subsidy of $5,000.00

Borrower minimum contribution:
$1,000.00

Eligible properties:
Owner-occupied 1-4 family properties, Townhouses, condos, Foreclosed properties, Cooperatives, Manufactured Housing, Mobile Housing, New construction (within 30 days of closing), Purchase of existing unit, Occupy home as principal place of residence

Eligible borrowers:
Funds may only be made available to a first-time homebuyer.

Here are the current guidleines to qualify as a first time home buyer for the Federal Home Loan Bank of Atlanta grant funds:

• An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).
• A single parent who has only owned with a former spouse while married.
• An individual who is a displaced homemaker and has only owned with a spouse.
• An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
• An individual who has only owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
• R
ecovering victims of catastrophic loss or natural disasters

Other eligibility requirements*:
• Retention Period: 5 years (to have the funds granted without repayment)
• Income eligibility: Household income may not be more than 80% of the county area median income or the state median family income, adjusted for family size as published by HUD, whichever is higher

Income eligibility in Baltimore County (This chart lists the 80% of Baltimore County median income limit)

Household Size
Income Limit
1
46,100
2
52,650
3
59,250
4
65,800
5
71,100
6
76,350
7
81,600
8
86,900

*income and credit restrictions may apply. Borrower must use a mortgage lender that is a member of the Federal Home Loan Bank of Atlanta

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REAL ESTATE PROFESSIONALS, INC.
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OFFICE PHONE: 410-918-9740 | FAX: 410-918-9499
BROKER'S OFFICE: 410-234-2244

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REAL ESTATE PROFESSIONALS, INC.
5707 CALVERTON ROAD #2D CATONSVILLE, MD 21228
OFFICE PHONE: 410-916-0704 | FAX: 410-918-9499
BROKER'S OFFICE: 410-234-2244

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