Empowering First-Generation Homeownership in Kentucky and Tennessee
Rise Up is a down payment assistance program that provides $25,000 grants to first-time, first-generation homebuyers.
The program is administered by Fahe and funded by the Federal Home Loan Bank of Cincinnati (FHLB) to expand access to homeownership across Kentucky and Tennessee.
Whether you’re a participating FHLB Member Bank or a potential homebuyer, this page will help you understand the program, access the application process, and find the documents you need to get started.
Update ⚠
Due to The Rise Up Program’s success, the program is now closed for homebuyers in Kentucky and Tennessee and Fahe is no longer accepting applications.
Overview
- Grant Amount: $25,000
- Purpose: Down payment, closing costs, or principal reduction
- Available In: Kentucky and Tennessee
- Who Applies: Participating FHLB Member Bank or State Housing Finance Agency on behalf of the homebuyer
- Availability: First-come, first-served (launching Summer 2025)
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Eligibility
To receive Rise Up funding, homebuyers must:
Be a first-time, first-generation homebuyer
First-time: Not owned a home in the past 3 years
First-generation: Parents/guardians have never owned a home OR buyer was in the foster care system
Have household income at or below 120% of the HUD MTSP income limit for their county
Complete a HUD-approved homebuyer education course
Contribute at least $500 of their own funds toward the purchase
Purchase an eligible primary residence (single-family, townhome, condo, or 2–4 unit property)
See Information for Homebuyers (PDF) for more.
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Property Requirements
Eligible Properties Must:
Be located in Kentucky or Tennessee
Serve as the buyer’s primary residence
Be attached to a permanent foundation and taxed as real estate
Include the required retention agreement in the deed, enforceable for 5 years
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Five-Year Retention Requirement
All homes purchased with Rise Up funds must remain the homeowner’s primary residence for 5 years. If sold, transferred, or refinanced before that, some or all funds may need to be repaid unless an exception applies.
To request payoff documentation, see the Subsidy Payoff Request Form (PDF) and Retention Guidelines (PDF).
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Documents & Submission Resources
Rise Up Program Overview (PDF)
For FHLB Member Banks:
**FHLB Member Banks should reach out to Fahe at the email address above to request a secure link by which to upload all required documents for any new reservation requests in their service area; please do not email documents to Fahe.
Instruction Sheet for FHLB Member Banks (PDF)
Reservation of Funds Checklist (PDF)
Request for Payment of Reserved Funding (PDF)
Subsidy Payoff Request Form (PDF)
For Closing Agents:
Instructions for Closing Agents (PDF)
Rise Up Retention Language (PDF)
FHA Retention Language Acknowledgment (PDF)
Declaration of Restrictive Covenant Sample (PDF)
For Homebuyers:
How to Apply
1. Find an FHLB Cincinnati Member Bank
→ Search the Member Directory
2. Start a mortgage application through a FHLB Member or State HFA
3. Submit documentation via the FHLB Member to Fahe
4. Wait for confirmation of reservation—funds are not reserved until written approval is issued
View our Checklist for Reservation Requests (PDF) for required materials.
Contact Us
For questions about eligibility, documentation, or the submission process call 859-228-2152 or email [email protected].