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Truliant to Begin Offering FHLB Set Aside Funds for Mortgages

WINSTON-SALEM, N.C. (May 20, 2020) – To help first time home buyers during the unprecedented COVID-19 pandemic, Truliant Federal Credit Union is now offering “Set Aside” funds assistance from the Federal Home Loan Savings Bank of Atlanta.

Truliant gained the approval in early May. The program offers forgivable grants to first-time homebuyer costs covering down payment, closing costs, and principal reduction for the purchase or rehabilitation of an existing home. 

“We realize the need for programs that support affordable housing and assist buyers in their in their journey toward owning a home,” said Beth Eller, vice president of mortgage lending at Truliant. This program provides assistance  

The funds allows distribution for first-time homebuyers of up to $5,000; up to $7,500 for first time home buyers who are current or retired law enforcement officers, educators, firefighters, other first responders, and health care workers. 

It offers to $7,500 for first-time or non-first-time veteran homebuyers that are currently serving or have served in any branch of the U.S. military, their spouses, or their surviving spouses. National Guard Reservists are eligible if they have served in active duty or performed services in active duty or were injured in active duty. 

It also offers up to $10,000 if available to first-time or non-first-time veteran homebuyers that are currently serving or have served in an overseas military intervention for any branch of the U.S. military, their spouses, or their surviving spouses. National Guard Reservists are eligible for this amount if they have served in active duty or performed services in active duty or were injured in active duty. 

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