Federal Bank to Provide Florida with Nation’s Largest Affordable Housing Grant

There’s an affordable housing problem in the state.

Fortunately, help is on the way for lower-income family hoping to affordable a Florida home loan.

Federal Home Loan Bank of Atlanta will award more than $23 million in grants to 12 states, including Florida and the District of Columbia, to fund single-family and multifamily housing projects. Too many residents have been priced out of these markets, but here’s the best news:

Florida will receive the biggest grant at $6.2 million for 693 units.

“This money will benefit a variety of population segments, including the elderly, first-time home buyers and residents with special needs,” says Raymond Christman, president and CEO of Federal Home Loan Bank of Atlanta.

The bank is one 12 district banks in a federal system that provides low-cost financing, community development grants and other financial services to about 1,200 financial institutions in an area that includes the Sunshine State.

It’s a helpful first step on a path to cure affordable housing ailments and open up the Florida home loan market to more buyers.