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FHLBank Atlanta First-Time Homebuyer Product

Baltimore, Maryland

Last verified
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Assistance

$12,500

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is FHLBank Atlanta First-Time Homebuyer Product?

FHLBank Atlanta First-Time Homebuyer Product is a forgivable loan for homebuyers in Baltimore, Maryland.

  • FHLBank Atlanta Affordable Housing Program 'First-time Homebuyer Product' (FHP). Up to $17,500 forgivable assistance (5-year retention) for first-time buyers at 80% AMI. Funded by FHLB Atlanta; disbursed through member-institution lenders. Available statewide (and across FHLB Atlanta district: AL/DC/FL/GA/MD/NC/SC/VA); Live Baltimore is a Baltimore-City community partner.
  • Up to $17,500 in down payment, closing cost, and/or rehabilitation assistance for first-time homebuyers (increased from $12,500 in 2024 to $17,500 in 2025-2026). Structured as a 5-year forgivable second mortgage retention agreement, secured by a deed restriction. Funded by Federal Home Loan Bank of Atlanta's Affordable Housing Program (AHP) and disbursed through FHLBank Atlanta member institutions. Live Baltimore is a community partner that markets the FTHP product to Baltimore City buyers.
  • eligible buyer can use ANY participating FHLBank Atlanta member bank as the first-mortgage lender. 80% AMI cap. First-time homebuyer required (3-year lookback). Buyer must contribute $1,000+ of own funds. Counseling certificate required from city-approved agency. Eligible properties: owner-occupied 1-4 family, townhouse, condo, foreclosed property, cooperative, manufactured/mobile home, new construction (within 30 days of closing).
  • Funding comes from FHLB AHP (Federal Home Loan Bank of Atlanta Affordable Housing Program).

How much assistance does it provide?

FHLBank Atlanta First-Time Homebuyer Product offers up to $12,500 in assistance.

  • Buyer contribution: Buyer must contribute at least $1,000 of own funds.
  • 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?

FHLBank Atlanta First-Time Homebuyer Product is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by 5-year retention period (deed restriction). If sale/transfer/cash-out refi/non-owner-occupancy within 5 years, prorated unforgiven AHP subsidy is recaptured by FHLBank Atlanta. Forgiven 1/60 per month over 60 months (effectively 5 years prorated).
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

FHLBank Atlanta First-Time Homebuyer Product is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Standard 3-year FTHB lookback. Displaced-homemaker / single-parent exceptions per HUD.
  • The home is occupied as a primary residence
  • On credit: No FHLBank Atlanta-published FHP minimum; first-mortgage lender's product minimums apply.
  • A completed homebuyer education course, through Baltimore City-approved homeownership counseling agencies. HUD-approved counseling required by FHLBank Atlanta.
  • Residency: Property must be in FHLB Atlanta district (Maryland eligible) and serve as primary residence. For Live Baltimore-marketed application, property in Baltimore City.
  • Citizenship or immigration status: Per first-mortgage product rules.
  • First-time homebuyer (no primary residence ownership in past 3 years). Household income at or below 80% AMI for area (Baltimore HMFA: ~$68,450 1-person to $129,050 8-person). Owner-occupied primary residence. $1,000+ buyer contribution. HUD-approved homeownership counseling completed before closing. Must originate first mortgage with FHLBank Atlanta member institution. 5-year retention period - if property is sold/transferred/refinanced (cash-out)/non-owner-occupancy within 5 years, prorated unforgiven balance recaptured by FHLBank Atlanta. Eligible 1-4 family owner-occupied (subject buyer occupies one unit). Apply through participating member lender's AHP coordinator.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

FHLBank Atlanta First-Time Homebuyer Product limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% AMI (per HUD for property's MSA). Baltimore-Towson HMFA 2026 80% AMI: ~$68,450 (1-person) to $129,050 (8-person).
  • 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?

FHLBank Atlanta First-Time Homebuyer Product caps the purchase price as follows: No FHLBank Atlanta-published purchase-price ceiling; subject to first-mortgage lending limits.

  • Eligible property types include Single-family detached, Townhome, Rowhouse, Condominium, 2-4 unit owner-occupied, Cooperative, Manufactured home, and New construction.
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

FHLBank Atlanta First-Time Homebuyer Product serves buyers purchasing in Baltimore, Maryland.

How do you apply?

Applications for FHLBank Atlanta First-Time Homebuyer Product go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Baltimore City-approved homeownership counseling agencies. HUD-approved counseling required by FHLBank Atlanta..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Apply through FHLBank Atlanta member institution (your first-mortgage lender). FHP funds reserved at lock; member submits to FHLB Atlanta AHP system. First-come, first-served within annual FHLB Atlanta funding allocation., and are subject to availability.

  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.

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