Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado)

What is Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado)?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) is a grant for homebuyers in Statewide County, Colorado.

• The Federal Home Loan Bank of Topeka's Homeownership Set-aside Program (HSP) provides grants up to $15,000 for down payment, closing costs, and repair for homebuyers at or below 80% AMI in Colorado (and KS, NE, OK). Available through FHLB Topeka member banks.
• Up to $15,000 grant for down payment, closing costs, and repair.
• no repayment required.
• for buyers at or below 80% AMI.
• available through FHLB Topeka member banks in Colorado.
• Funding comes from Federal.

How much assistance does it provide?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) offers up to $22,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) is structured as a grant, so it is not repaid.

• Repayment is triggered by None — grant.
• The assistance is recorded in None — grant position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) limits household income to 80% of the area median income, which varies by county and household size.

• Income at or below 80% AMI statewide; varies by county.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) can be used for Single Family, Condo, and Townhouse.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) serves buyers purchasing in Statewide County, Colorado.

How do you apply?

Applications for Federal Home Loan Bank of Topeka Homeownership Set-aside Program (Colorado) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer education required.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.