FHLBank Topeka Homeownership Set-aside Program (HSP)

FHLBank Topeka Homeownership Set-aside Program (HSP) is a grant for homebuyers in Nebraska, administered by Federal Home Loan Bank of Topeka (delivered through participating member institutions). The Homeownership Set-aside Program (HSP) provides grants of $2,500-$15,000 for down payment, closing costs, and purchase-related repairs to first-time homebuyers at or below 80% AMI buying a primary residence in Nebraska (also CO, KS, OK). Part of FHLBank Topeka's TurnKey/AHP programs, delivered through participating member institutions. A 5-year retention period is enforced via a recorded RERA. $2,500-$15,000 grant. Covers down payment, closing costs, and purchase-related repairs. No repayment if 5-year retention met. Available statewide in Nebraska through FHLBank members. Funding comes from FHLBank AHP statutory contribution.

FHLBank Topeka Homeownership Set-aside Program (HSP) offers between $2,500 and $15,000 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 — Federal Home Loan Bank of Topeka (delivered through participating member institutions) determines any individual award.

FHLBank Topeka Homeownership Set-aside Program (HSP) is structured as a grant, so it is not repaid. Repayment is triggered by Sale, transfer, refinance, or cessation of owner-occupancy within the 5-year retention period triggers pro-rated repayment per the Real Estate Retention Agreement (RERA). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

FHLBank Topeka Homeownership Set-aside Program (HSP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through HUD-approved agencies; National Industry Standards; Fannie Mae (CreditSmart, Framework, HomeView), Freddie Mac, or Habitat courses; completed in current or prior calendar year. Residency requirement: Must purchase a primary residence in Colorado, Kansas, Nebraska, or Oklahoma. Apply through a participating FHLBank Topeka member institution; FHLBank does not work directly with homebuyers. Homebuyer education certificate required.

FHLBank Topeka Homeownership Set-aside Program (HSP) limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of Area Median Income (AMI). 2026 TurnKey income limits published at fhlbtopeka.com; calculated using the FHLBank AHP/TurnKey Income Calculation Guide. 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.

FHLBank Topeka Homeownership Set-aside Program (HSP) can be used for Single Family. New construction is eligible.

FHLBank Topeka Homeownership Set-aside Program (HSP) serves homebuyers purchasing anywhere in Nebraska.

Applications for FHLBank Topeka Homeownership Set-aside Program (HSP) go through Federal Home Loan Bank of Topeka (delivered through participating member institutions), which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served via HSP Online (hspfhlbtopeka.com); member monthly limit $75,000; 2026 reservations open Mar 2 2026 through Sep 30 2026. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.