The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has announced the availability of new Affordable Housing Program (AHP) products that provide funding for the purchase or rehabilitation of a home by veterans or active-duty members of any branch of the U.S. military, or their surviving spouses.
FHLBank Atlanta's new product line includes Veterans Purchase Product, Veterans Foreclosure Recovery, Veterans Energy Efficiency/Weatherization and Veterans Accessibility Rehabilitation. The products are designed to provide funds to assist veterans with down payment and closing costs, energy-efficient upgrades, weatherization and safety and accessibility improvements on eligible homes. Although the products are available nationally, home buyers are only able to access the Veterans Products through an FHLBank Atlanta member financial institution.
To qualify for the veterans products, home buyers and homeowners must have incomes that are less than or equal to 80% of the U.S. Department of Housing and Urban Development median income adjusted for family size. Eligible properties include owner-occupied one- to four-family properties, townhouses, condos, mobile homes, and new construction properties that are within 30 days of closing.