SAVERS BANK OFFERS ASSISTANCE TO HOMEBUYERS THROUGH FHLBANK BOSTON PROGRAM
SOUTHBRIDGE, MA (April 16, 2021) — Savers Bank has been selected to participate in 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 $2.25 million program provides grants to financial institutions to assist households earning up to 80% of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first-come, first-served basis. Buyers must also complete a homebuyer counseling program.
“We are pleased to participate in Equity Builder Program to help community members who are seeking to purchase homes in the communities where they live and work. Homeownership is a key to household and community wealth, and this program is an important tool in ensuring that more individuals and families can finalize a home purchase transaction,” said John Fearing, Sr. Vice President and Chief Lending Officer, Savers Bank.
Savers Bank is eligible to receive up to $150,000 in 2021 through the Equity Builder Program depending on availability of funds.
Since 2003, the Equity Builder Program has awarded more than $45.9 million in funds assisting 4,038 income-eligible households to purchase a home.
To learn more about applying for assistance, please contact our dedicated Residential Lending Specialist, Lisa Birtz at 877-247-1815.
About Savers Bank
Savers Bank is a full service community bank with offices in Southbridge, Uxbridge, Auburn, Grafton, Charlton, and Sturbridge. Savers Bank is a member of the Federal Deposit Insurance Corporation (FDIC), the Federal Home Loan Bank, the Co-operative Central Bank, and Massachusetts Bankers Association. Founded in 1910, Savers Bank has assets of over $650 million, offers a full range of consumer and commercial banking services, and a strong legacy of community commitment and customer service.
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.