Equity Builder Program ​​Procedures + Requirements

As a member, now that you’ve decided to apply for the program, mark your calendars with these important dates and review how the program works in detail. 

Application Period

You can apply during following period:

  • February 1 – February 28, 2022 by 3:00 p.m.

Enrollment Period

Once you apply, you will be notified of your enrollment cap the week of March 14, 2022. FHLBank Boston will begin accepting enrollments for qualified households on Friday, April 1, 2022.

Funding Rounds

Approved members will have full access to the funds allocated to the EBP funding round until they have met their maximum amount or until the pool runs out. Funds are always on a first-come, first-served basis. Please refer to the updated Program Features Notices of Changes and the EBP HOW Procedures for more information and the funding rounds*

The 2022 EBP/HOW funding release schedule is as follows: Friday, April 1; Monday, May 2; Wednesday, June 1; Wednesday, August 3.

Process

There are three easy steps to take advantage of the EBP:

  1. Submit an application to participate in the program,
  2. Once approved to participate, enroll homebuyers, and
  3. Request disbursement of the grant(s).

To apply and enroll homebuyers, visit Community Lending. All other forms for the application and enrollment process can be found in Forms + Applications.  

The standard review time for homebuyer enrollment applications is 15 business days assuming all acceptable documentation has been submitted. 

EBP in Affordable Housing Implementation Plan

EBP is guided by the Affordable Housing Program Implementation Plan to ensure that EBP grants are used in an effective, timely, and appropriate manner. The plan is developed each year in consultation with the FHLBank Boston Advisory Council. 

FOR OUR MEMBERS:

Manage Your Application

Find the form or applicaiton you need here:
Search

Educational Material

Find the training materials to help you secure an EBP grant.

Member Eligibility

View member eligibility guidelines or contact the program manager

Member Participants

See which members were approved to participate in EBP.

FAQs

Homebuyers can learn more about the program by reviewing these  FAQs.

*The number of periods, the percentages, and dates can change based on FHLBank Boston's sole discretion, the current year’s program need, and member/homebuyer demand.