Program provides down payment assistance to eligible borrowers.
Franklin Savings Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, a program that assists homebuyers with down payment and closing costs, as well as homebuyer counseling and rehabilitation support.
“We are pleased to partner with the Federal Home Loan Bank of Boston to help individuals and families realize their dreams of owning a home,” said Ron Magoon, President & CEO. “Homeownership helps build wealth and create financial stability, and programs that assist homebuyers can be effective in adding to the vibrancy of our communities.”
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. In addition, eligible buyers must complete a homebuyer counseling program.
As a participant in the FHLBB Equity Builder Program, Franklin Savings Bank is eligible to receive up to $150,000 depending on the availability of funds.
Since 2003, the Equity Builder Program has awarded more than $38.8 million in EBP funds to assist 3,512 income-eligible households with purchasing a home. To learn more about applying for assistance, please contact FSB’s residential lending team at 603.934.4445.
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.
About Franklin Savings Bank
Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank, offering a full array of commercial lending, personal banking and investment services throughout the Central Lakes Region and southern New Hampshire. Headquartered in Franklin, the Bank has offices in Bristol, Boscawen, Tilton, Gilford, Goffstown and Merrimack, as well as an office in Bedford for lending activities. Franklin Savings Bank also offers investment, insurance and financial planning services through its wholly-owned subsidiary, Independence Financial Advisors, from offices in Franklin, Bedford, Gilford, Nashua, Rochester, Merrimack and Goffstown, New Hampshire. As a recognized leader in providing the latest in financial services technology, Franklin Savings Bank remains committed to serving the needs of businesses, families and the communities it serves, through a dedicated team of employees, a diverse line of financial products and services, and continued investment in emerging technology.
You can learn more about Franklin Savings Bank by calling 1.800.372.4445, or visiting www.fsbnh.bank, or following the bank on Facebook, LinkedIn, Twitter and YouTube.