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 standards for determining a household's income. In addition, the income data will need to be entered into the EBP Income Calculator worksheet. Instructions can be found on the worksheet. 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 administered by an agency designated by the EBP-approved member financial institution. The program must include pre- and post-purchase counseling and a financial-literacy component alerting the buyer to the characteristics of predatory lending.

Eligible Properties
Individuals and households can receive EBP assistance to purchase units that they will occupy as their primary residence. Eligible ownership units include single-family, one- to four-family homes, townhouses, duplexes, condominiums, cooperatives, and modular homes. Other types of housing may be considered.

Please see the EBP Program Guide and Instructions Manual for more information.