The Lift Up Homeownership pilot program awards funding to members on a first-come, first-served basis to provide people of color with incomes up to 120% of the area median income with up to $50,000 in down-payment and closing-cost assistance toward the purchase of their first home.
FHLBank Boston defines a person of color for participation in Lift Up Homeownership as Black, American Indian/Alaska Native, Hispanic, Asian, or Native Hawaiian/Pacific Islander. Homebuyers will be required to self-certify their race or ethnicity by completing a self-certification form provided by FHLBank Boston.
The EBP program is available to first-time homebuyers and offers up to $29,000 of grant money to eligible borrowers. These grant funds can be used for closing costs, down payment assistance, or for prepaid mortgage insurance.
This program is available for a limited time only. Funds will be awarded on a first-come, first-served basis and are not guaranteed by Bay State Savings Bank.
The Housing Our Workforce grant program provides down payment assistance of 10% of the purchase price (up to a maximum of $25,000) to eligible homebuyers. Homebuyers must make a minimum contribution of 3% of the purchase price from their own funds.
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