Housing - Federal Home Loan Bank (FHLB) Disability Initiatives
Federal Home Loan Bank (FHLB) Disability Initiatives offer an “Affordable Housing Program” (AHP) designed to assist in the development of affordable housing for very low to low income households. The grant funds are available from participating lender banks.
AHP funds may be used to:
- Pay closing cost
- Pay down payment
- Buy down principal amount
- Assist counselling agencies with administrative funding
The current lender banks participating with IDS for AHP funds are BancorpSouth and BankPlus banks.The program for first time homebuyers and there must be a family member residing in the home that has a disability.
The funding is $10,000 per household and persons are eligible to purchase in multiple counties, especially rural counties, of the state. The household income must not exceed 80% of their county's annual median income. For more information visit the FHLB website at www.FHLB.com or contact IDS housing counselors at 601–266–5163 or toll-free TTY at 1-888 –671–0051.