Federal Home Loan Bank

As of 3/22/23 funds for this program are now exhausted until funded again.  It’s possible (but unknown) whether funding will occur again later in 2023.

The Federal Home Loan Bank (FHLB) program provides a $12,500-$15,000 grant to be used towards down payment and closing costs.

The program is available in DC, MD, & VA.

Home buyers will put down 3% on a conventional loan, and the grant may be used towards their down payment or closing costs.

First time buyers are eligible for a $12,500 grant.  Or if the buyer is a veteran or in healthcare, law enforcement, education, firefighter, or is a first responder, then they could be eligible for a $15,000 grant.  Buyers in these careers do not need to be first time buyers to be eligible.

Home buyers who haven’t owned real estate within 3 years are defined as first time buyers.

And provided the homebuyer remains in the home for at least 5 years, then the grant money is forgiven.

The income limit for the program is 80% of area median income.  This is based on family size and eligibility is based on income from the entire household rather than just the applicants on the loan.  You’ll need to declare all the people who’ll live in the home and document all income.

This chart shows the income limit for DC & surrounding counties

Or, here is the link to check the income limit for other areas:

The minimum credit score for the program is 620, but the buyer needs to be able to be approved through automated underwriting software (and approval is more likely at higher credit scores).

Condos, townhouses and houses are eligible (co-ops are not)

This program cannot be paired with First Home Heroes; they are not compatible.

A buyer needs to complete a first time buyer counseling class while under contract which has a fee of $275.

This program is funded as of 2/21/23 and has 34-40 reservations available.  Funds will be available until exhausted and the funds can only be reserved after you have a signed purchase contract.

Looking for an FHA down payment assistance program?  Or other programs with higher income caps?  Visit

Pre-Qualify Now:

Questions? 240 – 479 – 7658