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Equity Builder Program (EBP) applications
are generally accepted during one funding round each year.
The Bank is pleased to announce the 2010 EBP funding round. A minimum of $1 million will be allocated to the program.
The online application process will open on Monday, March 29 and close on Friday, April 16 at 5:00 p.m. Applicants will be notified of awards by Friday, April 30, 2010.
All applications must be submitted online
through this Web page or FHLB Direct, the Bank's online
account-information and transaction service.
Go
to the Application
EBP
Round Announcement
EBP
Notice of Changes
Chartered member institutions work through a two-step process to access EBP funding: first, members apply to participate in the upcoming round. Then, upon receiving approval to participate, members must submit enrollment requests for funding on behalf of income-eligible home buyers. A participating member may submit enrollment requests for no more than the maximum aggregate EBP funding cap of $100,000. EBP funds are awarded to participating members in increments of up to $10,000 on a first-come, first-serve, home-buyer by home-buyer basis; EBP funds are not guaranteed or reserved in advance for any participating member.
The first one-third of a member's dollar
allocation must be used to fund first-time home buyers
(as defined by the Bank in the EBP Manual).
For
more information about the EBP application process,
please see the EBP
User Manual,
the EBP
Technical Assistance Training (PDF), the 2010 AHP Implementation Plan, or contact
your community
investment manager.
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