Homeownership Set-aside Program (HSP)

Homeownership Set-aside Program (HSP) is sponsored by Federal Home Loan Bank of Topeka. This program provides down payment, closing cost, and purchase-related repair assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) for the purchase of a primary residence in Colorado, Kansas, Nebraska, or Oklahoma.

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Read recent announcements from FHLBank. Download our logo and other brand guidelines. Community & Member Impact Affordable Housing Advisory Council Request for Repayment Quote or Release 2026 HSP Program Overview FHLBank Topeka sets aside funds annually within the Affordable Housing Program (AHP) to assist very low, low-, and moderate-income first-time homebuyers.

The Homeownership Set-aside Program (HSP) provides down payment, closing cost and purchase-related repair assistance to first-time homebuyers earning at or below 80% of the Area Median Income (AMI) for the purchase of a primary residence located in Colorado, Kansas, Nebraska or Oklahoma.

HSP is offered through a partnership with participating FHLBank members (financial institutions) and reflects our shared commitment to strengthening communities and increasing affordable housing opportunities. Participating FHLBank members guide homebuyers through eligibility interviews, handle required documentation, advance grant funds at loan closing and request reimbursement from FHLBank afterward.

To learn more or apply for HSP, homebuyers must connect with a participating FHLBank member . Program opening date: March 2, 2026 Funds available: $14,291,966. 76 Maximum subsidy per household: $15,000 Minimum subsidy per household: $2,500 Member monthly limit: $75,000 Homebuyer education required Five-year retention period — Obtain the Real Estate Retention Agreement (RERA) in the Resources Section of this webpage.

Reservations accepted on a first-come, first-served basis, contingent on member monthly limits and the availability of funds through Sept. 30, 2026. 2026 program changes and guidelines can be found in the HSP/HSP+ User Guide Looking ahead to 2027: Members must successfully fund a 2026 HSP or HSP+ reservation to qualify for a 2027 HOPE allocation.

TurnKey is offered in partnership with FHLBank members. Members are responsible for interviewing households to determine eligibility, submitting required documentation, advancing grant funds at loan closing and requesting reimbursement following loan closing. To participate in TurnKey, a TurnKey Member Registration Agreement (Registration Agreement) must be on file with FHLBank.

Once submitted, the Registration Agreement remains valid for current and future rounds, eliminating the need for annual registration. Contact TurnKey@fhlbtopeka. com for registration information.

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 determine eligibility and apply.

Homebuyer education is required for HSP and HSP+. FHLBank will accept certificates from providers approved by the organizations listed below. In general, if the homebuyer education provider is accepted by Fannie Mae or Freddie Mac, FHLBank will accept the course.

This includes the online courses CreditSmart, Framework and Homeview. United States Department of Housing and Urban Development (HUD): https://hud4. my.

site. com/housingcounseling/s/? language=en_US National Industry Standards of Homeownership Education and Counseling: https://homeownershipstandards.

org/home/Home. aspx Federal National Mortgage Association: http://www. fanniemae.

com Federal Home Loan Mortgage Corporation: http://www. freddiemac. com General Homebuyer Education Requirements: Homebuyer education must be completed within the current or previous calendar year of the purchase closing date.

The date of course completion must be visible on the homebuyer education certificate. Only one adult household member must complete the homebuyer education course and be named on the certificate. The provider must sign the certificate if the course is taken in a classroom or face-to-face setting.

If the course is taken online, the homebuyer's signature is not required. If Homebuyer Education is taken through an online platform, such as EHomeAmerica, ensure the provider meets FHLBank Requirements. EHomeAmerica is not the Homebuyer Education provider.

FHLBank recommends the required homebuyer education course be taken prior to the loan closing. Third Quarter 2026 Maximum Mortgage Rates Second or Subsequent Mortgage: 10. 43 2026 TurnKey Income Limits AHP/TurnKey Zero Income Certification Form AHP/TurnKey Verification of Employment AHP/TurnKey Profit & Loss Statement TurnKey Self-Employment Decision Tree AHP/TurnKey Income Calculation Guide | Rev.

1. 30. 26 Forms, Guides and Resources TurnKey Closing Checklist Down Payment Assistance Product Matrix Authorized Users in HSP Online TurnKey Program Decision Tree TurnKey Eligibility Questionnaire Real Estate Retention Agreement Rev.

2. 1. 25 Sample Real Estate Retention Agreement Code of Federal Regulations TurnKey Participating Members List Rev.

1. 14. 26 Request for Repayment Quote or Release To request a repayment quote, release or subordination of a Real Estate Retention Agreement (RERA), select "Complete Form" below.

To contact our Housing and Community Development department, please email TurnKey@fhlbtopeka. com or call 866. 571.

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