HOPE

Watch the HOPE video below to learn about uses and guidelines.

*The initial allocation of the 2024 HOPE funds has been exhausted. Funds for withdrawn, ineligible and expired reservation will be transferred back to the allocation remaining and available for reservation. For funds availability inquiries, please have an AHP/HSP Online Authorized User for your institution log into HSP Online and view the Allocation Remaining on the dashboard.

FHLBank is excited to announce a new program within the TurnKey suite, the Homeownership Possibilities Expanded or HOPE. This program provides access to the “missing middle” or homebuyers that do not traditionally receive support but need assistance with down payment, closing costs or other eligible repairs. HOPE is NOT limited to first-time homebuyers and household income must be at, or below 150% of the Area Median Income (AMI). HOPE cannot be combined or transferred between other TurnKey programs.

HOPE is funded by FHLBank's increased voluntary funding commitment to further fulfill our housing mission beyond our Affordable Housing and Homeownership Set-aside Programs. This is a voluntary commitment of 2.5% above our regulatory contribution of 10% of our previous year’s earnings.

Quick Facts

HOPE is NOT limited to first-time homebuyers
Properties must be in CO, KS, NE or OK
The household income must be at or below 150% of the Area Median Income
Homebuyer education is not required
Loan-to-Value or LTV cannot be less than 80%
The front ratio or FR may not exceed 38%
A HOPE subsidy is provided to households as a forgivable grant with a five-year retention period.

Please Note: The HOPE subsidy cannot be subordinated in the event of refinancing or obtaining additional liens.

HOPE Round Details

HOPE round opens March 4, 2024
Funds available: $4.1 million
Maximum subsidy per household: $12,500
Minimum subsidy per household: $2,500
Member monthly limit: $62,500
Reservations will be accepted on a first-come, first serve basis, subject to member limits through Nov. 29, 2024
Reservations will be submitted in HSP Online

Registration

Members of FHLBank Topeka are eligible to participate in the TurnKey programs. Members interview homebuyers, determine and certify household eligibility and submit grant reservations to FHLBank. To participate in any TurnKey programs, a TurnKey Member Registration Agreement (Registration Agreement) must be on file with FHLBank. Contact TurnKey@fhlbtopeka.com for registration information.

Message to Homebuyers
The TurnKey programs are offered in partnership with FHLBank members. FHLBank does not work directly with homebuyers and does not originate home loans. Contact an FHLBank member to apply.