FHLB Targeted Ownership Program
2007 Targeted Ownership Program (TOP) Funding Reservation Form

Date: ____________(Date of enrollment)  
Amount of subsidy being requested for reservation $__________(Max $4,000)
Name of Stockholder Institution: ____________________________________
Address:____________
City: ____________________State: ____________ Zip:____________
Contact person: ____________________________________
Phone: ___________ Fax #: _____________ E-mail address:

Homebuyer Name(s): ______________________________
Address of Property to be Purchased: _____________________
City: ________________ State: __ Zip: ________ County:____________

Required verification of the disability of the homebuyer or a member of the household is attached?     [ ] Yes [ ] No
Is the household's income eligibility for TOP based on a temporary condition?     [ ] Yes [ ] No
Is the borrower a full time student?      [ ] Yes [ ] No
Has the borrower been pre-qualified for TOP?      [ ] Yes [ ] No
Will the TOP funds be used to assist in the purchase of newly constructed home?      [ ] Yes [ ] No
If yes, will the construction require more than 90 days to be completed?     [ ] Yes [ ] No
Expected Completion Date: _______________________

By signing and submitting this reservation the stockholder agrees to the following:

A. The homebuyer household:

• Is a first-time homebuyer
• Will complete a homeownership education program prior to closing
• Meets the 80% of median household income requirement based on income of all members of the household
• Will provide at least $500 towards down payment, closing costs or costs paid outside of closing
• Will not receive cash back at closing
• Is not receiving a loan for the purchase of a home based on future earnings or prospective changes in employment known to the lender
• Includes at least one individual with a physical impairment or developmental disability which substantially limits one or more major life activities; and
  

B. The stockholder will:

• Comply with the terms of TOP Agreement executed by the member
• Use the TOP funds only for the identified household within 90 days after reservation, if approved
• Submit the TOP disbursement request at least 10 business days prior to closing or date funds are required.
• Will not submit disbursement requests less than 7 days after reservations are first accepted each round.
• Return the executed TOP Note, recorded TOP mortgage and final closing statement to the FHLBank within 60 days after disbursement
• of TOP funds to the member by FHLBank
• Use TOP funds within 60 days after FHLBank disbursement or return disbursed TOP funds to the FHLBank
• Notify the FHLBank's Housing and Community Development Dept. if the reserved funds will not be used
• Insure that the rate of interest, points, fees, and any other charges for all loans made in conjunction with the AHP direct subsidy shall not exceed a reasonable market rate of interest, points, fees, and other charges for loans of similar maturity, terms, and risk.
  

Signature of stockholder contact: ________________________
Printed name and title: ________________________

Submit signed form to: FHLBank Topeka, Housing & Community Development Department, P.O. Box 176, Topeka, KS 66601
Phone #: 785.233.0507   Fax #: 785.234.1765 Toll Free: 866.571.8155

For FHLBank Topeka use only:

Date reservation request received: ________________________ 90 day reservation expiration

Approved / Disapproved Signature: _______________________ Comment: __________

Reservation logged into database  D Date entered:______________

Approval of the reservation form does not represent approval of this household's income or other eligibility. The reservation approval reserves funds subject to final review and approval at the time of disbursement of the household's eligibility.