3/5/2018
Buying your first home is an important Milestone in your life. Here at MNB we understand that finding the right financing plan is as important as finding a home that fits your lifestyle. That’s why we’re excited to partner with Federal Home Loan Bank to offer qualified first-time homebuyers a grant of up to $5,000 per household.
The program provides down payment, closing cost and repair assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) for households purchasing or constructing homes in Colorado, Kansas, Nebraska and Oklahoma. These funds are provided to households as a forgivable grant with a five-year retention period.
Program details
-
Applications may be submitted on or after March 5, 2018. Program ends on November 30, 2018 (depending on availability of funds).
-
Maximum amount per household: $5,000
-
Homebuyer education required
-
Income at or below 80% AMI
-
Funds made available: a minimum of $4.5 million
-
First mortgage to be obtained through MNB
MNB prides itself on providing accessible and feasible financial resources and mortgage products to first-time homebuyers. Please contact our Real Estate Lending Team to determine if you are eligible for First-time Homebuyer funding and to begin your application process.
Loans subject to credit approval and eligibility requirements
*First-time Homebuyer Product is a grant program of the Federal Home Loan Bank of Topeka. Household income restrictions and other requirements apply. Please see www.fhlbtopeka.com for complete program requirements.