The Federal Home Loan Bank of Topeka has introduced a new online system to make it easier for members to participate in its Housing and Community Development (HCD) programs.
Through the online system, members can manage their Affordable Housing Program and Homeownership Set-aside Program.
The Affordable Housing Program provides gap financing for the purchase, rehab, or new construction of qualifying owner-occupied and rental housing. A minimum of $11.6 million will be made available for the 2017 program. The application period opens on May 15 and closes June 30. Awards will be announced on or before Dec. 29, 2017.
The Homeownership Set-aside Program is for first-time home buyers that provides up to $5,000 per household for down payment, closing costs, or repair. A minimum of $6.2 million will be made available this year.
The opening dates for the Affordable Housing and Homeownership Set-aside programs have been pushed back to May 15, 2017 to allow time to test the new system.
Members should contact Kellee Tinsley, membership coordinator, to designate authorized users for their institutions. Authorization forms should be submitted no later than April 28, 2017, to be
ready for the May 15th opening.
Participation in HCD programs gives members the opportunity to meet Federal Housing Finance Agency community support requirements.