Bath Savings has been selected to participate in two home-buying assistance programs: Federal Home Loan Bank of Boston’s (FHLBank Boston) Housing Our Workforce (HOW) program and Equity Builder Program.
HOW provides assistance to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments on owner-occupied primary residences. The program provides a two-to-one match of homebuyer down payments made at the time of purchase by eligible homebuyers. Borrowers can receive up to $20,000 in assistance on a first-come, first-served basis.
The Equity Builder Program provides grants to assist households earning up to 80% of the area median income. Borrowers are eligible to receive up to $22,000 in assistance on a first-come, first-served basis, and must complete a homebuyer counseling program.
“We are excited to participate in this program to help working individuals and families in our community become homeowners,” said Betsy Harrington, vice president of Retail Lending, Bath Savings. “These grants can help ease some of the challenges associated with a home purchase, particularly in areas like ours where home prices are on the rise.”
To learn more about applying for assistance, contact the lenders at Bath Savings at 800-447-4559 or bsi@bathsavings.bank.
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