Home$tart / Home$tart Plus

2015 Home$tart Program Year Begins April 1, 2015

The Seattle Bank will offer $1.7 million through its 2015 Home$tart Program. To prepare for the upcoming program year, we encourage Seattle Bank members to:

  • Review the 2015 AHP Implementation Plan which details requirements for the 2015 AHP funding round, including its scoring criteria and feasibility benchmarks.
  • Review our November 21, 2014 Community Investment News for details about Home$tart Programs changes for the 2015 program year.
  • Register to attend our web seminar, The 2015 Home$tart and Home$tart Plus Program Year on March 11, 2015. The web seminar will provide information about how to efficiently and effectively calculate annual household income for Home$tart and Home$tart Plus eligibility, enroll a homebuyer, and submit a disbursement request.

Please note that the proposed merger between the Seattle Bank and the Federal Home Loan Bank of Des Moines (Des Moines Bank) will not impact the Seattle Bank’s 2015 offering of AHP and Home$tart.

Home$tart and Home$tart Plus promote homeownership by helping homebuyers earning up to 80 percent of area median income, adjusted for family size, purchase a home. The program assists Home$tart or Home$tart Plus eligible households, who, but for the receipt of Home$tart Program subsidy, would not be able to afford to purchase or rehabilitate a home.

  • The Home$tart Program provides $3 for every $1 of a homebuyer's demonstrated funds, up to $5,000.
  • The Home$tart Plus Program provides homebuyers currently receiving public housing assistance with $2 for every $1 of the homebuyer’s demonstrated funds, up to $10,000.
  • Home$tart and Home$tart Plus grants may be used for downpayments, closing costs, or rehabilitation of an owner-occupied housing unit—including a condominium or cooperative housing unit—to be used as the homebuyer’s primary residence. Grants may be used in combination with funds from other sources.

Since their inception in 1995, Home$tart and Home$tart Plus have granted more than $47 million to help over 9,000 eligible homebuyers purchase a home.

For Homebuyers

Prospective homebuyers must apply for Home$tart grants through a Seattle Bank participating member financial institution. Please contact a member institution for more information about Home$tart and Home$tart Plus and to find out how to apply.

For Member Financial Institutions

To participate in Home$tart and Home$tart Plus, Seattle Bank members must have a one-time Application for New Home$tart and Home$tart Plus Programs (pdf) on file with the Seattle Bank. Additionally, members must sign and return an annual Home$tart and Home$tart Plus Regulatory Agreement governing the program year in which the member is participating.

Members currently approved to participate in the 2014 Home$tart and Home$tart Plus programs may enroll new homebuyers at any time, subject to funds availability. To determine if first-come, first-served funds are available, log in to the Community Investment Services section of our website. Please do not submit an enrollment before checking the availability of funds.

To request a User ID for the Community Investment Services section of the website click on “Register Here” under “First Time Visitors” on the Login page, or contact the Community Programs team via the contact information at the bottom of this page.

To learn more about Home$tart and Home$tart Plus, please review:

Questions? Please contact Community Programs Analyst Mandie Ludlam (206.340.2389).