Federal Home Loan Bank of Atlanta Allocates $120 Million for Affordable Housing in 2026

Grants will increase housing supply, provide downpayment assistance, and assist families with generational wealth

ATLANTA, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will allocate $120 million in 2026 to fund its affordable housing programs, which distribute grant funding for homebuyer downpayment assistance, housing development and rehabilitation, and legal assistance for property owners to protect their equity and build generational wealth.

“With this year’s allocation, we will complete our distribution of more than $300 million over three years to advance housing supply, homebuyer affordability, and community development,” said FHLBank Atlanta President and CEO Reggie O’Shields. “Affordable housing is a multifaceted challenge, and throughout the year we introduce grant opportunities that address critical needs across our region.”

$60 Million Available Now for Downpayment, Closing Cost, and Rehabilitation Assistance

Of the $120 million allocated for distribution this year, $60 million is now available. Financial institutions that are members of FHLBank Atlanta can apply for two programs to support homebuyers of eligible income levels with downpayment, closing cost, and home rehabilitation assistance.

For households earning less than 80% area median income (AMI), $40 million is available, allowing each member financial institution to apply for up to $750,000 to distribute as grants for up to $17,500 for first time homebuyers; up to $20,000 for community partners such as employed or retired law enforcement officers, educators, firefighters, health care workers, veterans and surviving spouses, and other first responders; and up to $25,000 for homeowners to rehabilitate a home either impacted by a natural disaster or requiring high-cost improvements.
For households earning between 80.01% and 120% AMI, $20 million is available through the Workforce Housing Plus+ program. Each member financial institution can apply for up to $500,000 to distribute, and eligible homebuyers can receive up to $15,000 for downpayment and closing cost assistance.

Homebuyers interested in the grant programs should reach out to a FHLBank member institution and inquire about grant availability and eligibility. Member institutions can be found on the FHLBank Atlanta website.

“Over the last three years, Shore United has applied for and received more than $2 million in grants from FHLBank Atlanta, which resulted in us providing downpayment assistance to 178 homebuyers,” said Jimmy Burke, President and CEO of Shore United Bank. “FHLBank Atlanta funding enables us to support homeownership for customers with a range of incomes, and we plan to apply again this year to help even more members of our community purchase homes.”

Increasing Housing Supply Across the Southeast

In April, $50 million will be made available through FHLBank Atlanta’s Affordable Housing Program (AHP) General Fund to support the acquisition, new construction or rehabilitation of rental and residential housing. Grants up to $1,250,000 will be awarded to eligible projects partnering with FHLBank Atlanta member financial institutions.
In June, the Multifamily Housing Bridge Fund offering will open with an allocation of $10 million, helping multifamily projects currently under development to overcome financial gaps and reach completion.

Helping Property Owners Protect Equity and Build Generational Wealth

FHLBank Atlanta will also allocate $500,000 in 2026 to continue the advancement of heirs’ property prevention and resolution efforts, including support for expanded education and legal services to help families secure their properties and build generational wealth.

Funding through each program is distributed through FHLBank Atlanta’s members located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

About Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. For more information, visit our website at www.fhlbatl.com.

CONTACT: Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com

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