FHLB Boston Equity Builder Program

Maybe FHLB Equity Builder can help you!

 

Coming soon ! Participating Banks are waiting for the approval of this years round of EBP (Equity Builder Program) funds. EBP funds are awarded to participating members(is your Bank a participating member? Keep in mind these are Banks and not Brokers) in increments of up to $11,000 on a first-come, first-served, home-buyer by home-buyer basis; EBP funds are not guaranteed or reserved in advance.

EQUITY BUILDER - BUYER ELIGIBILITY

The Equity Builder Program (EBP) provides members with grants to assist home buyers earning no more than 80 percent of the area median income.

Income Guidelines
The Bank has established Income Calculation Guidelines for determining a household’s income.

Where mentioned, “area median income” and “median income” refer to the area median income as defined by the U.S. Department of Housing and Urban Development (HUD) income limits. All documents can be found in the Forms and Applications section of the EBP.

Eligible Buyers
Buyers eligible to receive assistance through the EBP are individuals and households earning no more than 80 percent of the area median income, based on their future address.

To be eligible to receive assistance through the EBP, buyers must complete a home-buyer-counseling program(info click here  ) administered by an agency designated by the EBP-approved member financial institution.

Eligible Properties
Individuals and households can receive EBP assistance to purchase units that they will occupy as their primary residence.

 

Want more info or find out who to contact about eligibility?

 


 

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