Housing Our Workforce Eligibility + Terms of Funding

If you are interested in assisting income-eligible homebuyers with Housing Our Workforce (HOW) grants, please review the following guidelines before applying:

Grants Can Be Used For:

  • Down payments
  • Closing costs
  • Interest rate buydown up to 2%/points maximum associated with the grant's use of funds
  • Owner-occupied primary residences

Grants Cannot Be Used For:

  • Investment properties​
  • Reimbursing a homebuyer for earnest money deposits
  • Returning cash back to a homebuyer in excess of $250
  • Using HOW grant in conjunction with any other set aside or voluntary homeownership assistance program such as Affordable Housing Program, Equity Builder Program, or Lift Up Homeownership

Home Purchase Price Limits

Please refer to the home purchase price limits by county in each state. 

Income Calculation Guidelines

Refer to these income calculation guidelines, which FHLBank Boston uses to verify household income and determine whether households are eligible to participate in our homeownership assistance programs.

First-time Homebuyers

Homeownership education and counseling is required for first-time homebuyers only. Please refer to this list of approved homebuyer counseling organizations for each New England state.

FOR OUR MEMBERS:

Manage Your Application

Find the form or application you need here.
Search

Training Materials

Find the training materials to help you secure a HOW grant.

Procedures + Requirements

Learn the details to help you successfully apply.

infographic with black road map with steps one through six on how to use FHLBank Boston homeownership programs

Quick Roadmap

See how our homeownership assistance programs work.

Learn More

man seated at a desk reviewing a document with two women and a man standing near him looking down at the document

Creating Opportunity

Our 2019 Annual Report highlighted how borrowers used a program grant to buy a home.

Read More

* FHLBank Boston reserves the right in its sole discretion to determine at the time the application is submitted whether a member is eligible to participate in our homeownership assistance programs based on, but not limited to, the borrowing and/or credit status of the member.