Secure Your Grant Before It's Too Late!
Funds are expected to be available until June 2024. We encourage interested applicants to apply early to secure their grant.
AHP Homeownership Set-Aside Program
Get $12,500 or $15,000 in down payment assistance
✓ Receive $12,500 or $15,000 in assistance towards down payment and/or closing costs.
✓ Forgivable Loan: No repayment if you remain in your home for at least 5 years.
✓ Interest rate is standard 30 year fixed market rate; not higher due to grant.
✓ Works with conventional, FHA, VA and USDA loans.
What is the Affordable Housing Program (AHP) Homeownership Set-Aside Program?
Unlock the door to your new home with the Affordable Housing Program Homeownership Set-Aside Program. This program provides financial assistance that you can use towards your downpayment and closing costs. You can enjoy the benefits of a 30-year fixed mortgage rate without the need for repayment – it’s fully forgiven in just 5 years.
Qualify for $12,500 as a first-time buyer or $15,000 if you’re a community hero—law enforcement, educators, firefighters, healthcare workers, veterans, or military members and their spouses.
Eligibility Requirements
- Household Income Limits: To qualify, your annual household income must fall within the following ranges (Note: Income limits vary by county. Please refer to the county-specific guidelines for detailed information)
- Credit Score: A minimum credit score of 620 is required to be eligible for the grant. (AUS approval required)
- Owner-Occupied Requirement: The property you are purchasing with the assistance of the program must be your primary residence.
Check Your Eligibility In Just Minutes
The process for checking your eligibility is simple!
Common questions about the AHP Homeownership Set-Aside Program
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Who is eligible for the AHP Homeownership Set-Aside Program?
First time homebuyers OR Community Partners (community partner is defined as current or retired law enforcement officers, educators, firefighters, health care works, and other first responders, veterans and active-duty members of the military or their surviving spouse.)
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Do I need to repay the down payment assistance?
This is a forgivable second lien that is forgiven after five years. If the home is refinanced or sold prior to the end of the five year period, the loan will be pro rated on a 5, 4, 3, 2, 1 basis.
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What are the eligibility requirements?
To qualify for our homeownership grant, the borrower must either be a first-time homebuyer or a valued community partner, including law enforcement officers, educators, firefighters, healthcare workers, veterans, and military members and their spouses. Additionally, the total household income must not exceed 80% of the county area median income or the state median family income, adjusted for family size, as published by HUD—whichever is higher. Moreover, applicants are required to have a minimum credit score of 620 for conventional loans or 580+ for FHA/VA/USDA loans to be considered.
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What types of properties are eligible?
To qualify for the grant, properties must be intended for owner occupancy. This means the home you're purchasing with the assistance of the AHP Homeownership Set-Aside Program must be your primary residence.
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In which states is the program available?
Federal Hill Mortgage is thrilled to offer the AHP Homeownership Set-Aside Program to residents in the seven states where we are licensed and operate. These states include Maryland (MD), Delaware (DE), Pennsylvania (PA), Virginia (VA), Washington D.C. (DC), North Carolina (NC), and Texas (TX).
For complete program details and eligibility requirements, please visit the official FHLB Affordable Housing Programs page.
