FirstDown Documents
Program Overview, Process, Guidelines & Definitions
Fourth Quarter 2023 Maximum Mortgage Rates for Owner-Occupied Projects
FIRST MORTGAGE 9.49% ------ SECOND OR SUBSEQUENT MORTGAGE 11.49%
STARTING 9/20/2023 ALL APPLICATIONS MUST BE BELOW 80% AMI. WE ARE CURRENTLY ACCEPTING APPLICATIONS THAT MEET AT LEAST 1 OF THE FOLLOWING 4 TARGETS:
1. SPECIAL NEEDS - 55+, MENTALLY OR PHYSICALLY DISABLED, PERSON RECOVERING FROM PHYSICAL, ALCOHOL OR DRUG ABUSE, PERSON WITH HIV/AIDS. (Need 6 more applicants as of 11/22/23)
2. LARGE UNIT - AT LEAST 3 BEDROOMS (Need 3 more applicants as of 11/22/23)
3. MILITARY VETERAN (Need 7 more applicants as of 11/22/23)
4. LOCATED WITHIN A NEIGHBORHOOD REVITALIZATION AREA/STABILIZATION PLAN - THESE ARE LOCATED IN LINCOLN AND OMAHA (Need 7 more applicants as of 11/22/2023)
ONCE THESE REMAINING TARGETS ARE MET WE WILL BE ABLE TO OPEN IT UP TO ANYONE AS LONG AS THEY ARE AT OR BELOW 80% AMI.
As of 11/22/23 we have funding to do 54 more grants by June 2024.
FirstDown funds can't be used in conjunction with any other FHLBank of Topeka funding.
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Low income = 80% AMI
Forms
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Note: Reservations are not guaranteed. Income and targets must be somewhat balanced through the entire grant. For example we are not able provide all 80% AMI loans at the beginning.
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First National Bank of Omaha is the FHLBank Member and their address is 1620 Dodge Street, Omaha, NE 68197
Additional Information
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This is a list of just FHLBank Topeka members. Member banks can be from any of the FHLBank systems.
