AHP Set-aside Product Update
FHLBank Atlanta is pleased to announce that, effective August 9, 2012, the $1 million per shareholder funding cap for the Affordable Housing Program (AHP) Set-aside Products will be increased for 2012.
Each FHLBank Atlanta shareholder will be eligible to receive the following:
- An unlimited amount of funding for any product from the Veterans Products Suite, until all AHP Set-aside funds for the 2012 cycle are exhausted or December 31, 2012
- An additional $500,000 in funding from any non-veterans AHP Set-aside Product until all AHP Set-aside funds for the 2012 cycle are exhausted or December 31, 2012
In 2012, FHLBank Atlanta shareholders have used more than $12 million of set-aside product funds to close transactions with over 1,600 households purchasing or rehabilitating a home. We hope that the increase in this year’s annual funding cap will enable you to continue to achieve your business objectives and meet the home purchase and rehabilitation financing needs of your customers.
AHP Set-aside Products can help you Grow Your Mortgage Business
AHP Set-aside Products provide grant funds to help your customers purchase and/or rehabilitate a home. The products are a unique offering for FHLBank Atlanta shareholders that can help your institution:
- Originate new mortgages and create cross-selling opportunities with new and existing customers.
- Reach new markets and expand your customer base, including first-time homebuyers, repeat homebuyers, veterans, and current homeowners seeking home improvement funds.
- Build strategic relationships in your community and generate new business from real estate agents, developers, churches, large employers, local governments, military bases, and contractors.
Visit our website to learn more about AHP Set-aside Products, including the Bank’s new suite of products targeted specifically to veterans and active duty members of the military.
If you have questions, please call us at 1.800.536.9650, option 3, option 3.