BEWARE THE PERFECT STORM - FHLBank Topeka

HOMEOWNERSHIP IN THE HEARTLAND
CENTRAL NATIONAL BANK
MAKING HOMEOWNERSHIP A PRIORITY IN
JUNCTION CITY, KANSAS
Loan originators at Central National
Bank know a good deal when they see
one. They’ve got a great thing going
with FHLBank Topeka’s Rural First-time
Homebuyer Program (RFHP), which, since
2005, has helped more than 20 Central
National customers get into a home by
providing down payment or closing cost
assistance.
Since 2005, CNB has used $74,239 in FHLBank
RFHP funds to help its customers realize the
American Dream of homeownership. Tina
Barker, vice president of CNB’s Mortgage
Banking division, said, “The majority of
potential homebuyers in our market don’t
have money saved up for a down payment.
We get calls on a daily basis from consumers
wanting to know if there is any down payment
assistance available. FHLBank Topeka’s
funds are making a huge difference for new
homebuyers.” CNB has also recently begun
accessing a modified version of RFHP that
assists first-time homebuyers who are disabled
or who have a family member who
is disabled. FHLBank’s Targeted Ownership
Program (TOP) offers $4,000 in down payment
assistance and closing costs to disabled
homebuyers.
Debra Lovgren, a native of Junction City,
received TOP funds from CNB and FHLBank
in 2007. Debra’s mother, Joyce, is nearly completely
blind due to complications from diabetes.
The mother-daughter duo has lived
together since 1996 with Debra lovingly
serving as her mother’s caretaker.
“I’ve always been a mama’s girl,” Debra said.
“They called me her shadow when I was
growing up. Wherever she went, I went.”
Now her mother is often Debra’s shadow,
grasping her daughter’s elbow as she leads
her out to the porch or into the next room
of their new home.
During all the years they’ve lived in rental
properties, Debra has dreamed of sitting
at her own kitchen table in her own home
just looking out the window. Today, she
can do that very thing thanks to the down
payment assistance she’s received. “I sit at
the table and I open up the blinds, and I
just look outside and my mom will be like,
‘What are you doing’ And I’ll say, ‘Oh, I’m
just sitting here looking out the window.’”
Adam Litzinger, a loan originator at CNB,
used to work with Debra at Wal-Mart in
Junction City where Debra still works as a
service manager. When she came through
the doors of Central National looking for a
home loan, Adam immediately thought of
FHLBank’s down payment program. “When
I saw Debra, I remembered that her mother
was visually impaired, and I knew she’d be eligible
for FHLBank’s TOP funds,” Adam said.
By Laura Maag Lutz
AVP, Congressional and Community Outreach
FHLBank Topeka
L to R: Michele Carter, FHLBank AHP homeowner program supervisor; Central National Bank’s Adam Litzinger, loan
originator; Tina Barker, CNB’s VP/mortgage banking division; Steve Barker, CNB’s VP/mortgage lending; and
Jessie Nikkel, CNB loan originator, have collaborated to provide nearly $75,000 in down payment assistance to CNB
customers since 2005.
Michele Carter, supervisor of FHLBank’s
homeowner programs, said, “We hope our
FHLBank customers will remember that in
addition to the RFHP, they also have access
to this other program, TOP, to assist disabled
homebuyers.”
Barker says CNB will make an extra effort
in 2008 to promote the availability of TOP
funds in their service areas. “We have plans
to reach out to some of the Special Olympic
groups as well as other groups that have
families that could benefit from these funds
who probably don’t know they’re available.”
On nice days, Debra likes sitting outside on
the porch watching her spirited miniature
Dachsund challenge the big dog next door
to races up and down the fence line. “We
can even sit outside on the porch if it’s raining,
because the roof was redone before we
moved in,” Debra added. Her mom says of
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FHLBank Focus | Winter 2007