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.
Our team of mortgage professionals are here for you every step of the way. For a rate quote or to learn more about MHFA loans and if they are right for you, contact us today!