FHLBank Topeka launched the Homeownership Possibilities Expanded (HOPE) Program in 2024 as a new addition to its long-standing down payment assistance efforts. HOPE provides funding for the “missing middle,” homebuyers that do not traditionally receive support for down payment, closing costs or eligible repairs. HOPE is not limited to first-time homebuyers and household incomes up to 150% of the area median income can qualify.

Since 1997, FHLBank Topeka has awarded nearly $100 million in grant funding through its traditional down payment assistance program. More than 1,132 homeowners in Hutchinson and the nearby Wichita area have benefited from $6.3 million of that funding.

FHLBank Topeka committed $4.1 million in HOPE grants through its members in Kansas, Colorado, Nebraska and Oklahoma in 2024. Funding opened March 4, 2024, with the entire $4.1 million reserved within two weeks.

“The new FHLBank HOPE grant program expanded the field of eligible borrowers for 2024,” said Cindy Sherraden, Vice President, Real Estate Lending at First National Bank. “At First National Bank, we are thrilled to be in partnership with FHLBank and to collaborate on a dream home for such a wonderful, appreciative borrower and her family.”

First National Bank has been a long-time participant in FHLBank’s grant programs helping 70 homebuyers since 2006 achieve the American Dream of homeownership through nearly $450,000 in grant funds. By completing the disbursement process for the very first $12,500 HOPE grant, they helped Sarah Diamond purchase her home in Hutchison.

“This grant helped me purchase a new home with land, which gave my kids a place to explore,” said Sarah. “First National Bank submitted their request on the morning the grants opened and secured a grant so quickly I was able to close a few weeks early.”

The family was so excited to stay in their new home, they slept on the floor the first night while waiting for their furniture to arrive.

“We are thrilled to offer this program through our members to build their communities. First National Bank has been an important partner over the years, and we are pleased they use our programs to make homeownership accessible and affordable for their customers,” said Kylie Mergen, FHLBank Topeka’s Community Investment Officer and Director of Housing and Community Development.

First National Bank, FHLBank Topeka and Sarah came together with others in the community to celebrate this milestone grant in Hutchinson on May 3, 2024.