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Affordable Housing

Federal Home Loan Bank of Atlanta offers two types of AHP loans in the Atlanta Metro Area:

97% Financing AHP1

100% Financing AHP2

These financing options include:

  • A mortgage1 with low or no down payment1
  • No Private Mortgage Insurance required
  • Closing costs that can be funded by the seller or through documented gifts
  • A down payment that can be funded through gifts
  • First-time homebuyers are eligible for these loans with a minimum credit score to qualify as low as 620

Is an AHP loan right for you?

An AHP loan may be right for you if you:

  • Lack a down payment of 20%, or plan to use gift funds for your down payment
  • Have limited or a non-traditional credit history
  • Are concerned about qualifying income or earn less than the median income1
  • Live in approved Atlanta Metropolitan area

Down payment assistance

RBC Bank can assist homebuyers to access matching funds for the down payment and closing costs you may incur when purchasing a home. There are two down payment assistance programs available.

First-time homebuyers1

For every $1 you contribute to your home purchase, you can receive $4 in matching funds, up to $12,500.

Community partners1

For every $1 you contribute to your home purchase, you can receive $4 in matching funds, up to $15,000.

This program is exclusively for current or retired law enforcement officers, educators, firefighters, health care workers and other first responders who are first-time homebuyers.

In addition to meeting the eligibility requirements, the homebuyer must:

  • Contribute at least $1,000 toward the purchase of the home
  • Occupy the home as a primary residence for at least 5 years
  • Complete a homebuyer education and financial literacy course specified by the Federal Home Loan Bank of Atlanta
  • Meet the household income requirements

RBC Bank AHP 100% RBC Bank AHP 97% FHA
Percent Financing 100% 97% 96.5%
Private Mortgage Insurance Required No No Yes (Upfront & Monthly)
Down Payment Assistance Available Yes Yes Yes
Minimum Credit Score 660 620 640 (Most Lenders)
Seller Contribution to Closing Costs 6% 6% 6%
Private Mortgage Insurance Required No No Yes (Upfront & Monthly)

RBC Bank AHP 100% Financing 30-Year Fixed RBC Bank AHP 97% Financing 30-Year Fixed FHA Financing 30-Year Fixed
Purchase Price $100,000 $100,000 $100,000
Down Payment $0 $3,000 $3,500
Loan Amount $100,000 $97,000 $96,500
Mortgage Insurance Premium Financed $0 $0 $1,689
Total Amount Financed $100,000 $97,000 $98,189
Interest Rate / APR 4.625% / 4.854% APR 4.375% / 4.605% APR 3.875% / 4.206% APR

RBC Bank AHP 100% Financing 30-Year Fixed RBC Bank AHP 97% Financing 30-Year Fixed FHA Financing 30-Year Fixed
Principle & Interest $514.14 $484.31 $461.72
Mortgage Insurance $0 $0 $68.00
Hazard Insurance $47.00 $47.00 $47.00
Property Taxes $100.00 $100.00 $100.00
Total Monthly Payment $661.14 $631.31 (lowest) $676.72
Minimum Income Required3 $2,132.71 $2,036.48 $2,406.23
Estimated Closing Cost $4,613.00 $4,586.75 $4,173.00
Total Cash to Close4 $4,613.00 (lowest) $7,586.75 $7,673.00

Homebuyer education workshops

From equipping you with the necessary tools to make a wise purchasing decision to learning the mechanics of the homebuying process, RBC Bank offers workshops to help you achieve your dream of homeownership. Workshops are offered in partnership with D&E, The Power Group, and provide an opportunity to ask questions and share an open dialogue with the other participants.

Topics covered include:

  • The homebuying process from A-Z
  • Insight from industry professionals such as lenders, insurance agents, realtors and home inspectors
  • The "do's & don'ts" of the homeownership process
  • Overview and discussion of homeownership readiness, budgeting, credit and other related topics
  • For information on registering for a homebuyer education session, please contact:

Chloe Tolbert, D&E, The Power Group – (770)961-6900, info@depower.org
Kimberly Pickett, Operation HOPE – (470)203-6596, kimberly.pickett@operationhope.org

Helpful links

Household Income Form
Mortgage Documentation Checklist
AHP Fact Sheet, Client Version
AHP Fact Sheet, Realtor Version

Get started today

Call 404-780-3769
or
Send An Email

Mortgages are subject to approval, including verification of acceptable income, credit worthiness and property valuations. Minimum and maximum property values and maximum loan-to-value ratios apply. Homeowner's insurance is required for all loans and lines of credit and flood insurance is required if the property is located in a Special Flood Hazard area. Escrows may be required on mortgages. Income cannot exceed 80% of the Atlanta MSA (Metropolitan Statistical Area) median income or subject property must be located in a LMI (Low to Moderate Income) census tract. AHP (Affordable Housing Program) Loans offered up to 97% of property value require a down payment of at least 3%. You may qualify for Down Payment Assistance programs based on credit score requirements. Consult RBC Bank for details. To qualify for the AHP closing costs offer, a full and complete mortgage application must be submitted by October 31, 2024. Mortgages must fund within 120 days of the application date. Offer may be withdrawn or changed at any time without notice. Offer is only available on new RBC Bank mortgages. Costs paid by RBC Bank as part of this special offer include appraisal, credit report, flood certificate, tax services, title fee, settlement & closing fees, recording fee, transfer taxes, and any courier or wire fees. The offer does not include property taxes, pre-paid insurance premiums or other fees not outlined above. May not be combined with any other special offers. The Community Partners and First-time Homebuyers programs are a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply. Please see Federal Home Loan Bank of Atlanta's Affordable Housing Program Implementation Plan at https://www.rbcbank.com/affordable-housing-program/index.html for complete product requirements. RBC Bank NMLS# 878077
Minimum credit score 660 for 100% financing
Based on 31% housing to income ratio.
Total cash to close may be reduced by Down Payment Assistance and/or Seller Concessions.