Homeownership Set-Aside Program
First State partners with FHLBank to offer the Homeownership Set-Aside Program (HSP) to assist low- and moderate-income first-time homebuyers.
The HSP provides down payment, closing cost and repair assistance to first-time homebuyers earning at or below 80% of the Area Median Income for households purchasing or constructing homes in Nebraska. The HSP is provided to households as a forgivable grant with a five-year retention period.
2024 HSP Details
- Applications open March 4, 2024.
- Maximum subsidy per household: up to $15,000.
- Reservations will be accepted on a first-come, first-served basis, subject to member limits through November 29, 2024.
- A 3-5% down payment, plus closing costs is required, and HSP grant funds can be used to help with the down payment.
- Income limits apply by county.
To get started, reach out to a mortgage expert or apply online and we’ll walk you through the HSP process.
Member FDIC | 
Subject to credit approval. Subject to terms and conditions of the FHL Bank Homeownership Set-Aside Program, including borrower eligibility requirements. Reservations are accepted on a first-come first-served basis, subject to limits through November 29, 2024. If program guidelines are not met, the subsidy may need to be repaid.