Disaster Relief Program Overview

During state or federally declared disasters, members can access mortgage assistance for income-eligible homebuyers and small businesses.

How it Works

• Members can apply for up to six months of mortgage assistance, with a maximum grant of $15,000, is available per recipient.
• Homeowners must have incomes at or below 100% of area median income, own a primary residence in a declared disaster area, and have a mortgage held or serviced by a FHLBank Boston participating member.
• Small businesses must meet SBA definitions and be located in a declared disaster area, and have a mortgage held or serviced by a participating FHLBank Boston member.
• State cap: The cap per each New England state is $1 million in funding.
• Member cap: Each member is eligible to receive up to $150,000 in funding.
• Covered costs includes principal, interest, insurance, and taxes.

Policy & Procedures

Review the program’s Policy and Procedures for more details or if you missed the webinar, please refer to these PPT slides.