First-time Homebuyer Program

FHP Funds Remaining Available as of 8/27/10: $4,156,452

Since its inception in 1997, our First-time Homebuyer Program (FHP) has helped more than 9,700 families and individuals purchase homes. The program provides matching funds for down-payment and closing-cost assistance to low- and moderate-income homebuyers. Participation in the program offers members a way to access a wider customer base and originate new mortgages. Individual homebuyers who would like to access FHP funds must meet eligibility guidelines and apply for funds through a participating member financial institution.

By completing a one-time registration for FHP, Member Banks can access up to $1 million annually and distribute matching FHP awards of up to $7,500 per household to eligible homebuyers. The FHP offering cycle continues through December 31 or until the set aside is exhausted, whichever occurs first. We provide funds to participating financial institutions on a first-come, first-served basis.

Members can obtain a registration application and additional information from the "View Related Documents" section of this page.