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Homebuyer Program

First-Time Homebuyer Program

Here at Bank of McKenney, we understand that finding the right financing plan is as important as finding the right home.


The first-time homebuyer program includes the offering of a grant from the Federal Home Loan Bank of Atlanta* to assist first time homebuyers with the funds needed for down payment and closing costs.

To help you get started on solid footing, Bank of McKenney can assist first-time homebuyers in accessing matching funds for the down payment and closing costs incurred when purchasing a home. For every $1 you contribute to your home purchase, you can receive $4 in matching funds, up to $5,000. Funding is available to qualified first-time homebuyers. **

In addition to meeting income eligibility requirements, the homebuyer must:

  • Contribute at least $1,000 toward the purchase of the home
  • Occupy the home as a primary residence for at least five years
  • Complete a homebuyer education and financial literacy course (course determined by FHLBank Atlanta)

Bank of McKenney prides itself on providing accessible and feasible financial resources and mortgage products to first-time homebuyers. Please contact one of our loan officers to determine if you are eligible for First-time Homebuyer funding and to begin your application process.

  • Lorraine Lester or Holly McCaffity, Loan Officers
  • 6300 River Road
  • South Chesterfield, VA 23803
  • Mortgage Department – 804.590.9939

*Subject to availability of funds.
**First-time Homebuyer Product is a product of the Federal Home Loan bank of Atlanta’s Affordable Housing Program Implementation Plan. Household income restrictions and other requirements apply.

Federal Home Loan bank of Atlanta’s Affordable Housing Program Implementation Plan

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What our customers are saying

"They were amazing; each person took the time to not only help me, but to explain, so that I understood. I can honestly say, I could have never bought a house without Beth and the staff at Bank of McKenney."

— Jennifer Brooks, homeowner