First Time Home Buyer Grant

NEW in 2024:

There are now two Homebuyer Grant Programs available. The Homebuyer Set-aside Program (HSP) and the Homeownership Possibilities Expanded (HOPE). Grant funds are offered in partnership with FHLBank Topeka. Funds will become available on March 4th, 2024. Details and eligibility requirements are below.

Homebuyer Set-aside Program (HSP)

The Homebuyer Set-aside Program (HSP) provides down payment, closing cost, and repair assistance up to $15,000 for qualified homebuyers! The HSP subsidy is provided to households as a forgivable grant with a five-year retention period.

Qualifications for Eligibility:

• All borrowers, co-borrowers and co-owners of the transaction must meet guidelines.
• Household income must be at or below 80% of the Area Median Income*.
• Homebuyer Education must be completed by the borrower (online courses are available).

Homeownership Possibilities Expanded (HOPE)

The HOPE program funds are no longer available for 2024.

The Homeownership Possibilities Expanded (HOPE) is NOT limited to first-time home buyers and provides down payment, closing cost, and repair assistance up to $12,500 for qualified homebuyers! The HSP subsidy is provided to households as a forgivable grant with a five-year retention period.

Qualifications for Eligibility:

• All borrowers, co-borrowers and co-owners of the transaction must meet guidelines.
• Household income must be at or below 150% of the Area Median Income*.
• Homebuyer Education must be completed by the borrower (online courses are available).

*The household income limit in Lyon County is $61,700 for a 1-4 person household & $81,450 for a 5+ person household. Household income is documented for all individuals who currently, or will, occupy the house or residence.

For information on income limits in other counties, please contact one of our Mortgage Loan Officers.

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