Until recently, grant funds for down payment and closing cost assistance was only reserved for eligible first-time home buyers. This wonderful opportunity, however, has now expanded to other buyers, provided that their income falls within certain guidelines. The Federal Home Loan Bank of Atlanta (FHLB) revamped their grant program several months ago and now offers a 4 to 1 matching grant program, up to a maximum of $5,000. So, if you invest a minimum of $1,000 into your home purchase, FHLB will give you $5,000 towards you down payment and/or closing costs. If you are interested in purchasing a foreclosure, make sure that the house does not need any major work or work that will bring up a red flag for your particular loan (such as peeling paint on the house exterior, pulled up flooring, or a hole in the siding). Grant funds generally cannot be used towards renovation loans or loans that require a repair escrow.