Federal Home Loan Programs
Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and Atlanta BeltLine, Inc. (ABI) today announced the reopening of the affordable housing finance partnership: the Atlanta BeltLine Housing Initiative Program (HIP). The HIP offers up to $3 million in grant funding for the purchase of new homes or the rehabilitation of existing homes along the Atlanta BeltLine corridor. Funding is available exclusively to FHLBank Atlanta shareholder financial institutions and their eligible customers earning 80 percent or less than the area median income.
During the 2015 pilot, HIP facilitated up to $1.7 million in first mortgage financing and provided up to $450, 000 in grant funding to new homeowners. Interested homebuyers can visit the Atlanta BeltLine’s website at to submit an application. The owner-occupied rehab program continues, but the wait list is currently closed to new applicants.
“Offering affordable units for working families is a key priority for the City of Atlanta and my Administration, ” said Atlanta Mayor Kasim Reed. “I look forward to the return of the partnership between the Federal Home Loan Bank of Atlanta and Atlanta BeltLine, Inc. after the completion of a successful pilot program in 2015. It is imperative that low-income families can access the benefits of living near the BeltLine as the project continues to positively transform the face of our City.”
“ABI is committed to ensuring that the Atlanta BeltLine community continues to be a place that everyone has the opportunity to call home, ” said Atlanta BeltLine, Inc. President and CEO, Paul Morris. “As the Atlanta BeltLine continues to grow, we want to celebrate the diversity of the 45 neighborhoods and assist individuals and families most affected by the impacts from growth and change. This unique partnership with FHLBank Atlanta is a significant tool in fulfilling our goal of creating 5, 600 units of affordable housing.”
“The mission of the Federal Home Loan Bank of Atlanta is to help our shareholder financial institutions meet the changing affordable housing and credit needs of the communities they serve, ” said Robert Dozier, Executive Vice President and Chief Business Officer for FHLBank Atlanta. “One of the ways that we achieve that mission is to connect our shareholders with initiatives like these, as they build communities, stimulate the local economy, and improve the lives of their customers.”
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