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The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is making an additional $7.2 million in AHP Homeownership Set-aside Program funding available through its members.

Under this initiative, eligible borrowers will be able to apply for up to $15,000 to help them purchase or rehabilitate a home. The additional funding will be available beginning May 15 through FHLBank Atlanta’s First-time Homebuyer Product, the Community Partners Product, and the Community Rebuild and Restore Product. The funds are available on a transaction by transaction, first-come, first-served basis.

“We are pleased our board of directors has increased FHLBank Atlanta’s level of commitment to affordable housing for a second consecutive year,” said Tomeka Strickland, FHLBank Atlanta’s senior vice president and director of community investment services, who noted the new funding could assist many as 500 eligible borrowers. “The additional Homeownership Set-aside Program funding will help those who are most vulnerable to the challenging housing market secure safe and stable housing for their families.”