Equity Builder

Available through the Federal Home Loan Bank (FHLB), the Equity Builder Program (EBP) serves income-eligible home buyers with grants of up to $30,806 for down payment and closing costs. Bluestone Bank supplements EBP grants with a $400 closing cost discount for eligible recipients. Grant funds are limited and awarded on a first-come, first-served basis. EBP grants are forgivable after five years, subject to conditions. Offered in Massachusetts, Rhode Island, and New Hampshire. 

Housing Our Workforce (HOW)

Also available through the FHLB, the HOW grant program provides up to $25,000 in assistance to home buyers whose incomes exceed the EBP grant level. Grant funds are limited and awarded on a first-come, first-served basis. HOW grants are forgivable after five years, subject to conditions. Offered in Massachusetts, Rhode Island, and New Hampshire.

MassHousing Down Payment Assistance (DPA)

MassHousing’s Down Payment Assistance (DPA) programs provide funds of as much as $30,000 through a 2nd mortgage in connection with a MassHousing 1st mortgage and allow qualified first-time home buyers to finance up to 97% of the purchase price of the home. Eligibility for DPA is subject to income and acquisition cost limits, and repayment terms vary, with the balance due and payable on the sale of the home or payoff or refinance of the 1st mortgage. Offered in Massachusetts.

RI Statewide DPA Grant

RIHousing’s $15,000 Down payment Assistance Program provides $15,000 in assistance for down payment and/or closing costs in the form of a zero-percent (0%) interest rate loan to eligible first-time homebuyers in Rhode Island.

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