Screen Shot 2022-03-29 at 12.13.41 PM

In partnership with the FHLBank, eligible first-time homebuyers can receive up to $7,500 for down payment or closing cost assistance through the Homeownership Set-Aside Program. The program sets aside funds within the Affordable Housing Program to assist very low, low and moderate income first-time homebuyers. First-time homebuyers must earn at or below 80% of the Area Median Income (AMI) for households purchasing or constructing homes in Colorado, Kansas, Nebraska and Oklahoma. The HSP is provided to households as a forgivable grant with a five-year retention period. Reservations are accepted on a first come, first served basis until the funds run out or through November 30, 2022. 

New details on the Homeownership Set-Aside Program for 2022 include:

  • A minimum of $6.24 million in funds available
  • Maximum subsidy per household is $7,500
  • Minimum subsidy per household is $2,500
  • Households may receive $250 cash back
  • A minimum contribution from the household is not required

If you in the market to purchase your first home, but are overwhelmed by the process, our experienced and knowledgeable Mortgage Relationship Managers will guide you through the home buying process step by step! We'll weigh the advantages and risks of purchasing a home, calculate what you can afford, get you pre-qualified, check your eligibility for grants and assistance programs, and build a loan solution personalized to you! 

Find an Mortgage Relationship Manager

Sarah Taubenheim

Sarah is the Media Specialist at Heartland Bank. She graduated from Nebraska Wesleyan University with a degree in Communication Studies. Sarah enjoys spending time with her family and friends and organizing and decorating her home.

Get the latest news & stories in your inbox!