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First Time Home Buyer Program

The program known as the Federal Home Loan Bank of Atlanta (FHLB)’s First-Time Homebuyer Program (FHP), has just begun a new funding cycle.This program is available to members of the Federal Home Loan Bank of Atlanta (banks, savings & loan associations, and credit unions). This program may be used anywhere in the State of Maryland.

Buyers must meet these requirements:

· Household income must be at or below 80% of median income (see chart).
· Complete homeownership counseling with a qualified counseling agency.
·  The buyer must save at least $500 of their own funds. For every $1 the buyer saves toward the purchase, the program will provide $3, up to $5,000.
· The mortgage must be from a participating member institution.
· The buyer will sign a five-year retention deed.
* If the buyer remains in their home for five years, the funds are not repaid.

Call 410-444-9152 with any questions regarding this program.

HUD Income Guidelines for Baltimore County SELP and the FHLB’s FHP

Household Size

Household Income

Household Income