Homeownership Assistance Grant Programs
SCU Credit Union has been selected to participate in Federal Home Loan Bank of Boston’s homeownership assistance program, Equity Builder Program and Housing Our Workforce.
Equity Builder Program
The Equity Builder Program (EBP) assists local income-eligible homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.
Borrowers earning up to 80% of the area median income are eligible to receive up to $29,000 in assistance on a first-code, first-served basis. The EBP grant released for 2023 is $ 5,750,000. As of July 07, 2023, $5,750,000 has been used and $0 is available.
*Buyers are required to complete homebuyer education/counseling if they are a first-time homebuyer.
Housing Our Workforce
Housing Our Workforce (HOW) provides assistance to financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments on owner-occupied primary residences.
Borrowers can receive 10% of the home sales price or up to $25,000 in assistance on a first-come, first-served basis. HOW is funded by Federal Home Loan Bank of Boston. The HOW grant released for 2023 is $ 5,100,000. As of July 07, 2023, $5,100,000 has been used and $0 is available.
*Buyers are required to complete homebuyer education/counseling if they are a first-time homebuyer.
Contact Form
Let our team guide you through the exciting process of buying your first home. With our wide range of tools and resources specifically designed for first-time homebuyers, we'll make sure you feel informed and supported every step of the way. We'll help you understand all your mortgage options so you can make the best decision for your future. We are here to help. If you want to learn more about the grant programs or have questions about mortgages, please complete the form below, and a team member will contact you. Please do not send sensitive information such as account and social security numbers.