FHLBank Atlanta First-time Homebuyer Product: up to $17,500 in South Carolina

How does the First-time Homebuyer Product work?

The Federal Home Loan Bank of Atlanta sets aside part of its Affordable Housing Program each year for homebuyers. It does not lend to you directly. Instead, a member bank or lender requests the subsidy on your behalf when you buy. For 2026 the cap is $17,500, structured as forgivable assistance, so it is not a debt you make payments on as long as you meet the terms.

The money is first-come, first-served. Each year's pool can run out, which is why the card above shows Funding varies. If you are close to buying, ask early whether your lender still has an allocation.

Who qualifies?

• First-time buyers only.
• Income at or below 80% of area median for your county, or of the state median if that is higher.
• You must put in at least $1,000 of your own funds.
• You must work with an FHLBank Atlanta member lender.

There is no statewide price cap listed for this product. FHLBank Atlanta also runs Workforce Housing Plus+ for buyers between 90.01% and 120% AMI, but its 2026 terms were not available when we checked.

Can it be used with SC Housing assistance?

This is the one pairing with a written answer. SC Housing's Made It Home! page says FHLBank down payment assistance may be layered behind SC Housing assistance, subject to lender approval. In practice that means a first-time buyer could pair the $10,000 SC Housing Homebuyer Program DPA with this product, if the lender is both an SC Housing partner and an FHLBank member and approves the structure. Local city or county programs are a separate question; a participating lender confirms whether they combine.

Who benefits most? Buyers in counties where SC Housing's caps are higher than 80% AMI may find this product's income test stricter than the state's, so check both numbers. A first-time buyer who qualifies for both can approach closing with two forgivable layers. If you earn a little too much for this product, ask your lender whether the Workforce Housing Plus+ tier is open, since it targets buyers just above the 80% line.

How to apply

1. Find a lender that is both an FHLBank Atlanta member and active in your county.
2. Ask whether 2026 set-aside funds remain.
3. Get pre-approved and confirm your income is under 80% AMI.
4. Set aside at least $1,000 of your own money for closing.
5. Your lender submits the subsidy request with your loan.

Compare forgivable help with other types in our grant vs. forgivable guide, browse the county guides, or check your eligibility.

Questions about FHLBank Atlanta First-time Homebuyer Product (AHP Homeownership Set-aside)

Ask whether I qualify for this program

Our account follows the official program page as of November 2026. Funds and rules can change, so please confirm the present terms with the program or a participating lender. South Carolina Down Payment Assistance has no connection with this program.