Equity Builder Program assists homebuyers with down payment & closing costs
Franklin Savings Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with down payment and closing costs as well as homebuyer counseling and rehabilitation assistance.
“We are pleased to be able to offer this assistance to help ease some of the challenges associated with purchasing a home. Homeownership is key to building wealth and creating financial stability, and programs like the Equity Builder Program are a critical component to ensuring that our communities continue to thrive,” said Ronald Magoon, President & CEO.
The $3.1 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 $11,000 in assistance on a first-come, first-serve basis. Buyers must also complete a homebuyer counseling program.
FSB is eligible to receive up to $110,000 in 2018 through the Equity Builder Program depending on availability of funds.
Since 2003, the Equity Builder Program has awarded more than $35 million in EBP funds assisting 3,150 income-eligible households to purchase a home. To learn more about applying for assistance, please contact FSB’s residential lending team at 603.934.4445, or schedule an appointment online by visiting https://www.fsbnh.bank/personal-banking/mortgages-loans/residential-lending-team/.
About FHLB 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.
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 and Merrimack, as well as an office in Bedford for business lending. 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 and Merrimack, 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.