Federal Home Loan Bank

The Federal Home Loan Bank (FHLB) program provides a $5,000-$7,500 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.  You are able to negotiate to have the seller contribute towards closing costs, via a seller credit.

First time buyers are eligible for a $5,000 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 $7,500 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.

This chart shows the income limit for DC & surrounding counties

FHLB income limits

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

The minimum credit score for the program is 620.

Looking for an FHA down payment assistance program?  Check out the Chenoa fund, which has no income limit.  There are also other down payment assistance programs provided by local governments.  Learn more at

Pre-Qualify Now:

Questions? 240 – 479 – 7658