Equity Builder Program

SFCU has been selected to participate in the Federal Home Loan Bank of Boston’s (FHLBank Boston) Equity Builder Program, which assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

The $3.6 million program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first come first serve basis. Recipients must also complete a homebuyer education/counseling program.

SFCU is eligible to receive up to $150,000 through the Equity Builder Program depending on availability of funds.

Subject to credit approval. Must have individual or household income equal to or below 80% of the HUD median income based on future address to qualify. Must be primary residence. The funds are from a pool of monies provided by FHLB and are available on a first-come, first-served basis. Funds are not guaranteed. Restrictions may apply.

About FHLBank Boston

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

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