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First Time Home BuyersFirst Home Bank Loan
Are you considering buying your first home?
Would you like up to $10,000 of down payment/closing cost assistance? Let HEWFCU help you get into the home of your dreams with a special program just for First Time Homebuyers
The program is offered as down payment/closing cost assistance for members who qualify based on these criteria:
- You agree to live in the home.
- You successfully complete a homeownership-counseling program. (Self-study brochure)
- You agree to contribute at least a minimum of $500, but not more than $10,000
- You agree to obtain your mortgage from HEW FCU.
- You sign a five-year retention deed. (Agreement to live in the home for at least 5 years)
Available funds are on a first come, first served basis, or until maximum set aside is exhausted.
To receive the full $10,000 credit, you must contribute $2,000 of your funds.
Per HUD guidelines, income per family size cannot exceed:
- 1 person - $43,050
- 2 person - $49,200
- 3 person - $55,350
- 4 person - $61,500
- 5 person - $66,400
- 6 person - 7$1,350
- 7 person - $76,250
- 8 person - $81,200
Participating members may use FHP funds to assist families purchasing homes located only in FHLBank Atlanta's district, which includes Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and the District of Columbia.
If you meet these criteria, or if you need income limits for other states listed, please contact Susan Jackson on 202-355-1863.
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