Date: August 22, 2002
To: VHDA Originating Agents
Re: FHLB First-time Homebuyer Program (FHP)
From: Janice Burgess
FHLB First-time Homebuyer Program (FHP)
We have received numerous request from VHDA lenders who are also Federal Home Loan Bank member financial institutions, for approval to use VHDA first mortgages with the FHLB First-time Homebuyer Program down payment assistance program. The Federal Home Loan Bank of Atlanta has now approved the use of VHDA originated loans by member institutions to be used with their FHP down payment assistance. This will offer a significant benefit to member bank customers - who can now receive VHDA's low interest rate along with the affordable terms of the FHLB down payment assistance.
For more information concerning the FHLB First-time Homebuyer Program downpayment assistance and registration instructions, have your CRA or Operations Manager contact the Federal Home Loan Bank of Atlanta's Community Investment Services at 800-536-9650 ext. 8436 or 8441.