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Federal Home Loan Bank Seattle

HOME$TART - COMPLIANCE

Members must submit the following documentation for each homebuyer receiving a Home$tart grant:

  • HUD-1 settlement statements are submitted to the Seattle Bank within 30 days of the closing of the home purchase.
  • A Deed of Trust and Retention Agreement, recorded upon the purchase of a home. The original copy must be returned to the Seattle Bank within 90 days of the closing of the home purchase. (Exception: Homes purchased in Multnomah County, Oregon or located in the state of Hawaii are permitted up to six months to provide a copy of the recorded Mortgage and Retention Agreement.) This agreement ensures that a pro-rata share of the Home$tart grant will be returned to the Seattle Bank if the Home$tart-assisted home is sold before the end of the five-year retention period.
Click on the appropriate state to download a Deed of Trust and Retention Agreement:

The Seattle Bank will request semi-annual certifications on or around the end of June and December, to verify that the enrolled households remain interested in receiving their Home$tart grant.

Homebuyers must purchase a home within one year of being enrolled in Home$tart or they will be withdrawn and funds set-aside for them will be made available for new enrollments on a first-come, first-serve basis. Members may request up to two six month extensions for homebuyers.

For detailed information regarding program requirements, please refer to our Home$tart and Home$tart Plus 2008 Member Policies and Procedures (pdf), the AHP Implementation Plan (pdf), or contact Lindsey Bernacchi, community programs analyst, at 206.340.8710.



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