NORTHWAY BANK OFFERS ASSISTANCE TO HOMEBUYERS THROUGH FHLBANK BOSTON PROGRAM
Northway 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.
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. Buyers must also complete a homebuyer counseling program.
“Homeownership is not easily attainable for many households, so we are pleased to offer this assistance to help individuals and families purchase a home. Homeownership helps build wealth and create financial stability, and programs that assist homebuyers can be effective in adding to the vibrancy of our communities,” said Wendy Olson, Vice President, Mortgage Sales Manager at Northway Bank.
Northway Bank is eligible to receive up to $150,000 in 2019 through the Equity Builder Program depending on availability of funds.
Since 2003, the Equity Builder Program has awarded more than $38.8 million in EBP funds assisting 3,512 income-eligible households to purchase a home.
To learn more about applying for assistance, please call 800-442-6666 or visit northwaybank.com.
Northway Bank is one of the largest independent commercial banks in New Hampshire, operating 16 branches and employing more than 200 associates throughout the state. Its New Hampshire roots date back more than a century, establishing a long heritage of local commitment. Northway Bank serves individuals and businesses, combining the neighborly approach of a community bank with the extensive products and services you might expect to find only in a big national bank. At Northway Bank, community still counts. Call 800-442-6666 or visit northwaybank.com to learn how the right bank makes a real difference.
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.