Homeownership Assistance Programs Features & Notice of Changes
Membership Application Period
Program Comparison
Below is a comparison of the Equity Builder Program (EBP), Housing Our Workforce, and Lift Up Homeownership (LUH):
| Parameters | EBP | HOW | LUH |
|---|---|---|---|
| Annual Member Application | Required | Required | Required |
| Income Limits | up to 80% | more than 80% and up to 120% | up to 120% |
| Maximum Grant per Household | up to $32,099 | up to $25,000 | up to $40,000 |
| Maximum Member Limit* | up to $320,000 | up to $250,000 | up to $400,000 |
| Minimum down payment (homebuyer’s own funds) | $500 | $2,000 | $1,000 |
| Maximum Asset Requirement | No | Yes | Yes |
| Purchase property must be owner-occupied primary residence | Yes | Yes | Yes |
| First-time homebuyer | Required | Not Required | Required |
| First-generation homebuyer | Not Required | Not Required | Required |
| 5-year retention mortgage and note | Required | Required | Required |
| Member concession/ homebuyer incentive | Required | Not Required | Required |
Below is eligible uses for the grants for each homeownership assistance program.
| Use of Grant Funds | EBP | HOW | LUH |
|---|---|---|---|
| Down Payment | Yes | Yes | Yes |
| Closing Costs (including homebuyer education & counseling fee) | Yes | Yes | Yes |
| Discounted points/interest rate reduction (up to 2 points) | Yes | Yes | Yes |
| Rehabilitation Assistance | Yes | No | No |
Member Application Period Dates
In 2026, FHLBank Boston will offer members an opportunity to apply for EBP, HOW, and LUH in one annual member application. FHLBank Boston will accept online applications from members beginning Monday, February 2 through Friday, February 27, 2026.
Members must submit applications through this portal: https://housing.fhlbboston.com/. All supporting documentation must be uploaded before 3:00 p.m. on Friday, February 27, 2026. Members will receive notification of application approval by the week of March 16, 2026.
As noted in the table above, all three homeownership assistance programs can be used to reduce the mortgage interest rate by up to two points. However, a recipient who uses one of the down-payment assistance programs to buy down an interest rate, cannot also use the Mortgage Partnership Finance® (MPF®) Permanent Rate Buydown product offered by FHLBank Boston. Otherwise, a member who uses one of the programs to assist a buyer with down payments or closing costs can combine the program with the Permanent Rate Buydown product.
Release Schedule & Allocation
Each homeownership assistance program has its own total funding allocation. Funding releases will be on the first business day of each month and mid-month. FHLBank Boston will publish 2026 funding release dates on its website. There are two separate funding pools.
- A total of $250,000 will be allocated to each of the six New England states during the first funding pool, with members given 60 days to reserve funding for eligible homebuyers. This state-by-state pool must be used first.
- Any remaining funds from the first pool that are not utilized within 60 days will be placed in the general pool. The general pool will be available to all members throughout New England on a first-come, first-served basis. The allocation of funds is at FHLBank Boston’s sole discretion based on the current program year’s need and member/homebuyer demand and is subject to change.
Training Dates & Certification Requirement
FHLBank Boston will host mandatory training on the homebuyer enrollment process and disbursement requests for its three programs. All staff involved in grant programs are required to attend a session or view the recordings available on FHLBank Boston’s website. This requirement is intended to provide each member participating in these programs with comprehensive information about the three programs. Beginning in 2026, the housing and community investment (HCI) team will offer a Loan Officer Bootcamp and periodic Office Hours for technical assistance. Registration information is on the website.
2026 Program Changes
Below are notable changes for EBP, HOW, and LUH:
- The annual member application will be for all three homeownership assistance programs. EBP will be automatically selected but members will need to select HOW and/or LUH to participate as they are two voluntary grant programs.
- Effective 2026, HOW and LUH will have an asset cap of $150,000 for homebuyers to ensure grant funds are directed towards households with the greatest financial need. The maximum cap includes both the deposit and cash to close which cannot exceed $150,000.
- Home Purchase Limits will be removed as a requirement for HOW.
- If a homebuyer exceeds the newly implemented $150,000 maximum asset cap, the member can submit the homebuyer’s denial letter. In addition, FHLBank Boston will use home purchase price limits in accordance with the most recent limits published by IRS Mortgage Revenue Bond for both HOW and LUH.
- Beginning in 2026, eligibility for LUH program will be limited exclusively to first-generation homebuyers, subject to self-certification.
- LUH will include maximum member funding caps, aligning with EBP and HOW requirements. The initial member cap for LUH in 2026 is $200,000 but will increase up to $400,000.
Agreement Execution Process
The 2026 agreements will be emailed to the selected signer through AdobeSign on Monday, March 2, 2026, and must be signed by Friday, March 13, 2026. There is a combined agreement for all the programs. Please utilize the drop-down feature within your institution’s application, selecting the direct contact who will receive the AdobeSign document. Below is more information regarding the authorized signer process:
- Your organization’s User Entitlement Administrator (UEA) may delegate/authorize individuals to e-sign the annual agreements through Online Banking.
- For further information about navigating Online Banking, please see the Online Banking Resource Center or contact us at customerservice@fhlbboston.com or 800-357-3452 (option 3).
Program Reminders
Below is key information about all three homeownership assistance programs:
- Funds will be available on a first-come, first-served, homebuyer-by-homebuyer basis.
- Please direct potential homebuyers to your institution regarding their grant reservation status and do not guarantee funds until a homebuyer has been approved by FHLBank Boston.
- FHLBank Boston reserves the right to revoke funds associated with any submitted enrollment that does not comply with FHLBank Boston’s guidelines.
- Members must determine which program is best suited for an income-eligible homebuyer prior to requesting a grant. Funding for individual income-eligible homebuyers can only be reserved through one financial institution and through one FHLBank Boston program.
- Members must submit enrollment requests 15 business days prior to the scheduled home closing to allow FHLBank Boston sufficient time to review the homebuyer’s income eligibility.
- Any reservations outside the 15-business day window must include an extension with the enrollment submission request or risk denial of the grant.
- Please ensure all staff are using the most current documents (available on FHLBank Boston’s website before enrollments open April 1) and purge all 2025 documents. We cannot accept documents from prior years.
- The requirement for homebuyer education and counseling only applies to first-time homebuyers, as defined in FHLBank Boston’s AHP Implementation Plan (from 42 U.S.C.8 12704(14)). Please refer to the website for the list of approved agencies.
- Member concessions must be measurable and documented for EBP and LUH homebuyers only. Below is a list of acceptable concessions:
- Reduced or waived fees
- Reduced or waives points
- Below-market interest rates (supporting documentation of standard rate sheet is accepted)
- Reduced or waived items that otherwise affect the homebuyer’s financial outlay, such as mortgage insurance or loan-level pricing adjustments
- Relaxed minimum credit score or maximum debt-to-income ratio requirements
- Lender credit, down-payment assistance, or other cash contributions made by the member at closing
Resources & Contacts
For more information, please contact the Housing Community and Investment (HCI) team:
Please refer to the 2026 announcement and procedures for more information about the graduated member cap structure and detail.