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Equity Builder Program

The Federal Home Loan Bank of Boston's Equity Builder Program (EBP) offers members grants to provide households with incomes at or below 80 percent of the area median income with down-payment, closing-cost, home-buyer counseling, and rehabilitation assistance. Members can also use EBP grants to match eligible buyers' savings under an IDA-type program. Individual homebuyers and borrowers may not apply directly to the Equity Builder Program. Interested homebuyers and borrowers must work with a Federal Home Loan Bank of Boston financial institution approved to participate in the 2019 Equity Builder Program see Members Approved for listing.

The EBP is funded by a percentage of the Bank's annual Affordable Housing Program subsidy.

Please review the Bank's Announcement and Notice of Changes for additional details. The Bank will be offering free online training sessions for all members. Please see the Events page for all EBP training dates and times.

How the EBP Works

Chartered member institutions work through a two-step process to access EBP funding: first, members apply to participate in the upcoming round. Then, upon receiving approval to participate, members are required to attend the Bank's free online training programs prior to submitting enrollment and disbursement requests on behalf of income-eligible homebuyers. A participating member may submit enrollment requests for no more than the maximum aggregate EBP funding cap of $150,000. EBP funds are awarded to participating members in increments of up to $15,000 on a first-come, first-served, home-buyer by home-buyer basis; EBP funds are not guaranteed or reserved in advance for any participating member.

Mortgage loans originated with EBP grants may be sold by the member through the Bank's Mortgage Partnership Finance® program, provided that the mortgages and home owners continue to meet the retention requirements of the EBP.

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