FHLB Cincinnati has partnered with Fahe to administer the Rise Up Program (RUP). This pilot program offers grants of $25,000 for down payment, closing cost, and principal reduction assistance for first-generation homebuyers who are looking to purchase their first home in Kentucky or central and eastern Tennessee. Rise Up funds are available on a first-come, first served basis.

• Eligible homebuyers must:
  • Have at least one borrower certify as a first-generation and first-time homebuyer
  • Participate in homeownership education through a HUD-approved counseling agency
  • Have a total household income less than or equal to 120 percent of the HUD-defined Multifamily Tax Subsidy Project Income Limit (MTSP) for the county in which they will be purchasing a home
• Eligible properties:
  • Single family home (1- to 4-family units)
  • Located within Kentucky, central or eastern Tennessee (list of eligible counties)
  • Taxed and titled as real estate and attached to a permanent foundation
  • Used as a primary residence by the homebuyer

Mortgages for homebuyers in the program must be originated by an FHLB member financial institution or a state housing finance agency and are subject to a five-year retention agreement.

Rise Up Program Resources