FHLBank Topeka Homeownership Set-aside Program (HSP)

What is 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.

How much assistance does it provide?

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.

Do you have to pay it back?

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.

Who qualifies?

FHLBank Topeka Homeownership Set-aside Program (HSP) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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

• New construction is eligible.

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved agencies; National Industry Standards; Fannie Mae (CreditSmart, Framework, HomeView), Freddie Mac, or Habitat courses; completed in current or prior calendar year..

2. 2

   Contact Federal Home Loan Bank of Topeka (delivered through participating member institutions) to reserve funds

   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., 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.