MountainOne Bank Offers Assistance to Homebuyers

NORTH ADAMS, Mass. - April 3, 2024 - PRLog -- MountainOne Bank, with branches across Berkshire County and the South Shore of Massachusetts, has been selected to participate in the Federal Home Loan Bank of Boston's Equity Builder Program (EBP) and its Housing Our Workforce Program (HOW), which assists local homebuyers with down-payment and closing costs, homebuyer education and counseling. The Equity Builder Program also provides rehabilitation assistance as part of its offering.

Through the Equity Builder Program, the FHLBank of Boston provides grants to participating financial institutions to assist homebuyers with the purchase of a primary residence. Income-eligible households can receive up to $30,806.00 in grant assistance, which is forgivable after five years from the date of loan closing. To be eligible, borrowers must be at or below 80 percent of the area median income based on the address of their new home, and must complete a homebuyer counseling program through the FHLB. Grants may be combined with any other type of down payment programs. Loans are subject to credit approval.

Similarly, through Housing Our Workforce, the FHLBank of Boston provides grants to participating financial institutions to assist homebuyers with the purchase of a primary residence. Income-eligible households can receive up to $25,000 in grant assistance, which is forgivable after five years from the date of loan closing. To be eligible, borrowers must be between 80 – 120 percent of the area median income based on the address of their new home and must complete a homebuyer counseling program FHLB. Grants may be combined with any other type of down payment programs. Loans are subject to credit approval.

Those interested in learning more about how they may qualify for Equity Builder Program or Housing Our Workforce Program funds can contact MountainOne Bank via the www.mountainone.com (https://u7061146.ct.sendgrid.net/ls/click?upn=u001.gqh-2B...) website or via phone at 855.444.6861. MountainOne Bank is Member FDIC. Member DIF. Equal Housing Lender.

ABOUT MOUNTAINONE

MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank provides a complete array of personal and business banking and electronic services. MountainOne Bank is Member FDIC and Member DIF.

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.