Opening the Door to Homeownership
Buying a home is an exciting milestone, but saving enough for down payments, closing costs, and repairs can feel overwhelming. That’s where two powerful programs from the Federal Home Loan Bank of Topeka can help make homeownership more attainable: Homeownership Set-Aside Program (HSP) and Homeownership Possibilities Expanded (HOPE).
At The Bank of Tescott, we’re proud to partner with these programs to help local families move from dreaming about a home to holding the keys in their hands.
Homeownership Set-Aside Program (HSP)
Subsidy per household: $15,000 maximum/$2,500 minimum
HSP provides grant assistance to income-eligible homebuyers to help cover down payment and closing costs. These funds don’t have to be repaid as long as program guidelines are met, which can significantly reduce the upfront cash needed to purchase a home.
HSP is ideal for:
- First-time homebuyers
- Individuals and families with modest incomes
- Buyers who are financially ready but need help crossing that final hurdle
Homeownership Possibilities Expanded (HOPE)
Subsidy per household: $3,000
The HOPE program is designed for households facing unique challenges, such as families with a member with a disability, seniors, and others who may need additional support to achieve stable housing. HOPE funds can be used not only for down payment and closing costs, but also for accessibility improvements that make a home safer and more comfortable.
Examples include:
- Ramps, handrails, or widened doorways
- Bathroom or kitchen modifications
- Other improvements that allow homeowners to live independently
Why These Programs Matter
Homeownership builds stability, strengthens neighborhoods, and creates long-term financial opportunity. Programs like HSP and HOPE help ensure that more people in our communities have a fair chance at that future.
Every situation is different, and navigating the details can feel complicated—but you don’t have to do it alone. Our lenders are here to visit with you, review your goals, and see if one of these programs could be part of your path to owning a home.
If you’ve been thinking about buying, now is a great time to start the conversation. Stop by any Bank of Tescott location or give us a call—we’d love to help you take the next step toward a place to call your own.