First Bank and Trust Company Announces Grant Funds for Mortgage Assistance

At First Bank and Trust Company, we are excited to announce the availability of grant funds aimed at making homeownership more accessible to families and individuals in our community. In partnership with the Federal Home Loan Bank of Atlanta (FHLBank Atlanta), a total of $60 million in grant funding is now available through two expanded programs designed to assist with down payments and closing costs for both new and existing homeowners.

Who Qualifies for Funding Support?

These grants, available to eligible borrowers, offer substantial assistance to help make homeownership more achievable. The funding targets a wide range of potential homeowners, including first-time buyers, low- and moderate-income families, and members of public service professions.

Details of the Available Programs

FHLBank Atlanta is offering grants through two primary programs that are available to eligible individuals who work with financial institutions like First Bank and Trust Company. These include:

1. 2025 Affordable Housing Program (AHP) Homeownership Set-Aside Program

   This program provides a variety of funding options designed to address the specific needs of different groups:
• First-Time Homebuyers: Downpayment and closing cost assistance to first-time homebuyers purchasing an existing home. Available for borrowers with incomes at or below 80% of the area median income (AMI).
• Community Partners: Assistance for employed or retired law enforcement officers, educators, firefighters, healthcare workers, veterans, surviving spouses, and first responders. The funding can be used for down payment, closing costs, or counseling. Available for borrowers with incomes at or below 80% of the area median income (AMI).

2. Workforce Housing Plus+ Program

   This program is focused on assisting borrowers with incomes between 80.01% and 120% of the area median income (AMI). It provides downpayment and closing cost assistance in FHLBank Atlanta’s district, which includes states like Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

Building Stronger Communities and Futures

The funding provided through these programs not only empowers individuals and families to achieve the dream of homeownership but also strengthens the community by enabling families to invest in their futures, build generational wealth, and stabilize neighborhoods. As an institution committed to serving our local community, we believe these grant funds will have a positive ripple effect for years to come.

These funds are available on a first-come, first-served basis until the allocated funds are exhausted. For more information on eligibility and to get started with your application, reach out to one of our Mortgage Bankers today. Together, we can help you take the next step toward homeownership.

About First Bank and Trust Company

First Bank and Trust Company, one of the top community banks in the United States, is a diversified financial services firm with office locations throughout southwest Virginia and the state’s Blue Ridge and Shenandoah Valleys. First Bank and Trust Company also operates throughout northeast Tennessee and North Carolina. Financial solutions are addressed by offering free checking products for personal and business accounts, savings, money markets, and time deposit accounts. Lending solutions are managed by mortgage, agricultural, and commercial lending divisions. Comprehensive wealth management solutions are available through trust and brokerage service representatives. Equal Housing Lender. Member FDIC.

For more information, visit Who We Are | First Bank & Trust Company or contact Marketing at marketing@firstbank.com.

SOURCE First Bank and Trust Company