Five Points Bank Blog

2025 Homeownership Grants

Are you looking to become a first-time homeowner in 2025, or are you in the process of exploring your options? If so, we have exciting news for you! The Federal Home Loan Bank is offering grants of up to $15,000 per household. If you meet certain eligibility criteria as a homebuyer, you may qualify to access these funds through a mortgage with Five Points Bank.

Whether you’re a first-time homebuyer or looking to purchase your next home, there are two grant programs designed to provide financial support for down payments and closing costs. Let’s take a look at both opportunities.

HSP - Homeownership Set-Aside Program (For First-Time Homebuyers)

The Homeownership Set-Aside Program (HSP) is specifically designed to help first-time homebuyers. If you’ve never owned a home, this program can provide you with a grant to help you with the financial burden of purchasing your first home.

• Eligibility: First-time homebuyers only.
• Income Limit: Household income must be at or below 80% of Area Median Income (AMI).
• Grant Amount: Grants ranging from $2,500 to $15,000, depending on eligibility.

HOPE - Homeownership Possibilities Expanded (For All Homebuyers)

If you’re not a first-time buyer but still need help with the costs of buying a home, the Homeownership Possibilities Expanded (HOPE) program is for you. This program is available to all homebuyers, not just first-timers.

• Eligibility: Open to all homebuyers, not limited to first-time buyers.
• Income Limit: Household income must be at or below 150% of Area Median Income (AMI).
• Grant Amount: Forgivable grants of up to $12,500.

Both grant programs will open on March 3, 2025. Be sure to apply early to ensure you don’t miss out on this incredible opportunity to make homeownership a reality.