Lift Up, Equity Builder and Housing Our Workforce Grant Programs

Bay State Savings Bank is proud to offer the Lift Up Homeownership Program, Equity Builder Program (EBP) and Housing Our Workforce (HOW) funded by the Federal Home Loan Bank of Boston.

Lift Up Homeownership

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.

Equity Builder Program (EBP)

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.

Housing Our Workforce (HOW)

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.

Program Qualifications:

  • Limited to first-time homebuyers of 1-4 family owner-occupied dwellings,
  • Eligibility is based upon income levels for borrowers,
  • Subject to underwriting approval,
  • Income verification required,
  • First-time homebuyer counseling from an approved credit counseling agency required,
  • Other conditions apply.

Ready to start the process?

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!

Call: (508) 890-9060 | Email:

First-Time Homebuyers: Contact Our Mortgage Professionals!