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.

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

How the EBP Works
Member institutions must first apply to participate in the EBP. In order to participate, members' home-buyer programs must meet EBP eligibility requirements. See the EBP Program Guide and Instructions Manual for more information.

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.