The CHP helps you finance owner-occupied and rental housing in your community at below market rates and various terms.
FHLBank Topeka's Community Housing Program (CHP) is a special advance program authorized by the Federal Housing Finance Agency’s (FHFA) Community Investment Cash Advance (CICA) regulations. The CHP provides wholesale loans (advances) priced below FHLBank’s regular advance rates to help finance owner-occupied and rental housing in their communities. This favorable pricing, coupled with the availability of funds in terms of four months to 30 years, helps lenders extend long-term, fixed rate credit for housing. Comparable funding for community and economic development loans is available through FHLBank's Community Development Program (CDP) advances.
CHP Advance Products and Programs
- Regular fixed rate advances
- Callable advances
- Amortizing fixed rate advances
- Adjustable rate advances
- Single-family home loans
- One-to-four family rental properties
- Multifamily rental projects
TERMS AND CONDITIONS
Members must comply with FHLBank’s lending procedures as identified in the Credit Guidelines section of the Member Products and Services Guide. CHP advances cannot be used to finance any direct activity of the member or an affiliate of the member. Members are precluded from using CHP advances for their own benefit. The minimum amount of a CHP advance is $10,000.
CHP advances are priced at FHLBank’s cost of issuing consolidated obligations of comparable maturities, including concession costs, plus a reasonable allowance for administrative costs. Callable, amortizing and adjustable rate CHP advances are priced in a similar manner using market interest rates applicable to FHLBank obligations of comparable maturities and call features. CHP advance rate pricing must be applied on the date the advance is issued.
If FHLBank determines that a member is not complying with the terms, conditions or regulations of the CHP, the interest rates on the outstanding CHP advances may be changed to the comparable market rates that were in effect at the time of the original funding. Members will be given the opportunity to appeal such determinations before FHLBank implements any rate adjustment.
CHP advances are available in maturities from four months to 30 years. Advance terms should be consistent with the proposed use of funds.
The normal prepayment fee will apply to CHP advances. For details, refer to the specific advance program.
CHP advances must be fully collateralized at the date of issuance and at all times thereafter. Please refer to the Collateral Guidelines section of the Member Products and Services Guide.
Members should allow 48 hours for processing a CHP application. Provided an approved CHP application is on file, CHP advances may be requested until 4 p.m. CT.
Failure on the part of a member to supply any requested documentation may result in the member being restricted from access to FHLBank's Housing and Community Development programs.
Questions? Housing and Community Development Department, ph: 866.571.8155, e-mail: HCDCSP@fhlbtopeka.com.
At application: Completed CHP application, including a list of loans for which the advance will be taken.
Within 60 days of advance withdrawal: For rental projects only, if not provided with the CHP application, a copy of the note(s) that documents the proceeds of the advance have been used for the approved CHP project.
Securely transfer Community Housing Program (CHP) applications and documentation with Proofpoint.
FHLBank Topeka is now utilizing Proofpoint to ensure the secure electronic transfer of personally identifiable information (PII) to FHLBank. Sign up for a Proofpoint account to begin transferring all CHP applications and accompanying documentation.
You must sign-up for an account before transferring documents.
Download the complete Proofpoint User Guide here.
**Please note: You must verify your Proofpoint account within 30 minutes after receiving the verification email or you will be required to register again.
You may utilize the Proofpoint button below to register for a Proofpoint account. Once you have registered, the Proofpoint button below can be used to access Proofpoint to securely transfer all CHP documents. Please email all CHP documents to HCDCSP@fhlbtopeka.com thru Proofpoint. If you have any issues using Proofpoint, contact HCD at 866.571.8155 between 8 a.m. and 5 p.m. Monday thru Friday.