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Freedom Bank's Dedication to Affordable Homeownership

Freedom Bank of Virginia is proud to announce its ongoing success in facilitating affordable homeownership in the DC Metro area. This initiative is made possible through their strategic partnership with the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) and its Affordable Housing Program.

As of June 30, 2025, Freedom Bank's Mortgage Division has successfully allocated $405,000 in grants to assist homebuyers. Among this funding, $180,000 is designated for the Workforce Housing Plus+ programs, which cover 12 loans with a total of $4.7 million in loan balances. Additionally, $225,000 is provided through the First-time Homebuyer and Community Partners programs, also comprising 12 loans totaling $4.6 million in loan balances. This financial support primarily targets down payments and closing costs, two of the most significant barriers for many aspiring homebuyers in today’s market.

Empowering Homebuyers

These targeted grants from Freedom Bank strive to help both first-time and seasoned homebuyers, with a particular focus on low-to-moderate-income families and public service professionals. By providing non-taxable funding, Freedom Bank is aligned with FHLBank Atlanta's mission: to strengthen communities and enable individuals and families to invest in their own futures, ultimately fostering generational wealth.

Freedom Bank is engaged in several critical FHLBank Atlanta programs, including:

• - First-time Homebuyer Program: This offers up to $17,500 for down payment, closing cost, and principal reduction assistance for first-time buyers purchasing or rehabilitating homes.
• - Community Partners Program: Tailored for professionals such as law enforcement officers, educators, firefighters, and healthcare workers, this program provides up to $20,000 to facilitate their homeownership journey.
• - Workforce Housing Plus+ Program: Targeted at individuals earning between 80.01% and 120% of the area median income (AMI), this initiative assists eligible applicants with up to $15,000 for their home buying or renovation needs.

A Lasting Impact

Richard Hutchison, Executive Vice President and Chief Mortgage Officer at Freedom Bank, emphasized, "Our Mortgage Division is committed to dismantling financial hurdles that impede homeownership in our community. These grants are essential for individuals dedicated to public service and are crucial for reinforcing our neighborhoods."

In 2025, FHLBank Atlanta plans to distribute approximately $120 million through varying programs focusing on affordable housing and community development. As Kirk Malmberg, President and CEO of FHLBank Atlanta, noted, "Half of these funds are earmarked for homeownership grants, which Freedom Bank is utilizing to make dreams of homeownership a reality for their clients."

For potential homeowners, Freedom Bank invites you to connect with their knowledgeable mortgage team. With rising housing prices, these grants serve as a vital financial bridge to achieve sustainable homeownership. With a commitment to helping clients, Freedom Bank offers a comprehensive suite of financial products tailored to individual needs, supported by innovative technology and responsive service.

For further details about the Affordable Housing Program, including eligibility requirements, visit the FHLBank Atlanta website. Funds are allocated on a first-come, first-served basis, emphasizing the importance of prompt action for those interested.

About Freedom Bank

Freedom Bank of Virginia is a forward-thinking community bank located in Fairfax, Virginia, dedicated to providing comprehensive commercial, personal, and mortgage banking solutions. With a keen focus on serving businesses, real estate owners, and professionals, the bank aims to deliver tailored, sector-specific solutions to help clients reach their aspirations. Freedom Bank operates locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA. To learn more, visit www.freedom.bank.

About FHLBank Atlanta

FHLBank Atlanta is committed to providing competitively priced financing and community development grants to its member institutions, which play a crucial role in facilitating affordable home mortgages and promoting economic development within communities. Since its inception in 1990, FHLBank Atlanta has allocated approximately $9.1 billion in Affordable Housing Program funds, positively impacting more than 1.2 million households.