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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Federal Home Loan Bank of Atlanta Commits $60 Million for Homeownership Grants

ATLANTA, Feb. 24, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it is making $60 million in grant funding available through two enhanced programs to help families and individuals purchase or rehabilitate a home. Financial institutions that are members of FHLBank Atlanta can apply for funding to distribute to eligible customers beginning today, Feb. 24, 2025.

“We are pleased to expand our support for homebuyers and homeowners this year, especially in light of challenges including high home prices and recent natural disasters,” said FHLBank Atlanta President and CEO Kirk Malmberg. “These programs have been designed to assist both first-time and repeat homebuyers, low- and moderate-income families, members of public service occupations, and those in declared emergency areas. We anticipate this funding will significantly impact the lives of thousands of people.”  

FHLBank Atlanta is committing $40 million through its 2025 Affordable Housing Program (AHP) Homeownership Set-aside Program. Each member financial institution can access up to $750,000 to distribute through three products:

  • First-time Homebuyer: Provides up to $17,500 in downpayment, closing cost, or rehabilitation assistance to first-time homebuyers in connection with the purchase of an existing home. This is an increase from $12,500 offered in 2024.
  • Community Partners: Provides up to $20,000 in downpayment, closing cost, counseling, or rehabilitation assistance in connection with the purchase or purchase and rehabilitation of an existing home by employed or retired law enforcement officers, educators, firefighters, health care workers, veterans and surviving spouses, and other first responders. This is an increase from $15,000 offered in 2024.
  • Community Rebuild and Restore: Provides up to $25,000 in funding for the rehabilitation of an existing owner-occupied home in Major Disaster Declaration areas as designated by the Federal Emergency Management Agency (FEMA) or by a local, state, or other federal government agency. This funding per unit is up from $10,000 in 2024.

FHLBank Atlanta is contributing $20 million to promote affordable housing through its Workforce Housing Plus+ Program, developed for borrowers with incomes between 80.01% and 120% of the area median income (AMI).

  • Member financial institutions can access up to $500,000 each and disburse grants up to $15,000 per eligible borrower for downpayment and closing costs.
  • Homes must be the primary residence of each grant recipient and located in FHLBank Atlanta’s district, which includes Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

“As a member of FHLBank Atlanta, we have access to a range of affordable housing programs, including downpayment assistance, which reduces barriers to homeownership for many people,” said Paul Phillips, President and CEO of Freedom First Federal Credit Union. “By applying for FHLBank Atlanta funding to distribute, we are creating a ripple effect of positive change – empowering local individuals and families to invest in their futures and build generational wealth while strengthening communities. As a community development financial institution (CDFI), these programs are a powerful way that we fulfill our mission to help people prosper and help communities thrive.”

Visit the FHLBank Atlanta website for full detail and eligibility requirements for the 2025 Homeownership Set-aside Program and Workforce Housing Plus+ Program. Funds to member institutions are available on a first-come, first-served basis. Borrower contribution and credit counseling are required for most products.

If you need assistance connecting with a member financial institution, or for more information, call the Bank’s Community Investment Services department at 1.800.536.9650, option 3.

About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

For more information, visit our website at www.fhlbatl.com.

CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com


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