FHLBank Atlanta First-time Homebuyer Product (FHP)

FHLBank Atlanta First-time Homebuyer Product (FHP) is a grant for homebuyers in South Carolina, administered by Federal Home Loan Bank of Atlanta. FHLBank Atlanta's First-time Homebuyer Product (FHP) provides up to $17,500 in funds for down payments, closing costs, and principal reduction for first-time homebuyers. The grant is funded by FHLBank Atlanta member financial institutions in Alabama, DC, FL, GA, MD, NC, SC, and VA. Income must be at or below 80% of the county AMI. Funds are available on a first-come, first-served basis through participating member lenders. Up to $17,500 grant (no repayment). Statewide through FHLBank member lenders. First-come first-served per member institution. Stackable with other assistance in most cases. Funding comes from FHLBank Atlanta AHP Homeownership Set-aside (2025: $40M pool).

FHLBank Atlanta First-time Homebuyer Product (FHP) offers up to $17,500 in assistance. Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Atlanta determines any individual award.

FHLBank Atlanta First-time Homebuyer Product (FHP) is structured as a grant, so it is not repaid. Repayment is triggered by None — outright grant, no repayment required. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

FHLBank Atlanta First-time Homebuyer Product (FHP) 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 or FHLB Atlanta designated homebuyer counseling provider. Must apply through FHLBank Atlanta member financial institution — individual homebuyers cannot apply directly. Funds allocated per member up to $750,000/institution. 2025 program has $40M total statewide pool across multiple states. Income limits use HUD county AMI published annually. Concurrent loan restrictions: confirm with member lender. Distinct from the Community Partners Product (separate program).

FHLBank Atlanta First-time Homebuyer Product (FHP) limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of county area median income (or state median family income, whichever is higher), adjusted for family size, per annual HUD publication. 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 Atlanta First-time Homebuyer Product (FHP) caps the purchase price as follows: Not specified — must be primary residence. Eligible property types include Single Family, Townhouse, Condo, and 2-4 Unit. New construction is not eligible. Manufactured homes are not eligible.

FHLBank Atlanta First-time Homebuyer Product (FHP) serves homebuyers purchasing anywhere in South Carolina.

Applications for FHLBank Atlanta First-time Homebuyer Product (FHP) go through Federal Home Loan Bank of Atlanta, which publishes the current terms and the application steps on its own site. 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.