Equity Builder Program

The Equity Builder Program* provides First-time Homebuyers up to $29,000 of grant money to eligible members. These funds can be used for closing costs, down payment, or pre-paid mortgage insurance.This program is for a limited time. Funds will be awarded on a first-come, first-serve basis and are not guaranteed. Please review the program requirements below.

• Qualification based upon income levels**
• For primary residencies only
• Program is for first-time homebuyers
• First-time homebuyers may be eligible for a $500 closing cost credit from GFA

*Grant is provided by the Federal Home Loan Bank of Boston through their Equity Builder Program. Interest would not accrue on the grant and the proceeds would only be due if the property is sold within the first five years of home ownership. May not be combined with any other type of down payment programs.

**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 education/counceling through an approved agency, the education component may be completed online through either Framework or eHome America, but only through the Bank’s list of recognized agencies via CHAPA, HUD or NISHECThe program must include pre-and post-purchase counseling.