FHLBank Boston Equity Builder Program (EBP) - Connecticut

FHLBank Boston Equity Builder Program (EBP) - Connecticut is a grant for homebuyers in Connecticut, administered by Federal Home Loan Bank of Boston (FHLBank Boston), through approved member financial institutions. The Equity Builder Program (EBP) is a FHLBank Boston grant program offered through member financial institutions across New England, including Connecticut. It provides grants to income-eligible first-time homebuyers (at or below 80% of area median income) to assist with down payment, closing costs, interest-rate buydown, rehabilitation, and homebuyer counseling. Grant of up to $32,099 (2026 round) for down payment, closing costs, interest-rate buydown (up to 2 points), rehabilitation costs associated with purchase, and homebuyer counseling (up to $500 per household). Funding comes from Federal Home Loan Bank of Boston (Affordable Housing Program set-aside).

FHLBank Boston Equity Builder Program (EBP) - Connecticut offers up to $32,099 in assistance. Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Boston (FHLBank Boston), through approved member financial institutions determines any individual award.

FHLBank Boston Equity Builder Program (EBP) - Connecticut is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

FHLBank Boston Equity Builder Program (EBP) - Connecticut is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required. Homebuyers cannot apply directly to FHLBank Boston; must apply through an approved member financial institution. Funds are first-come, first-served. Cannot be used to reimburse earnest money deposits, return more than $250 cash back to the homebuyer, or be combined with other FHLBank Boston homeownership set-aside programs (Affordable Housing Program, Housing Our Workforce, or Lift Up Homeownership). A fully executed Purchase & Sales agreement is required. 2026 round: application period Feb 2-27, 2026; enrollments begin April 1, 2026. Retention/repayment mechanism applies per FHLBank Boston EBP procedures. EBP assists first-time homebuyers only.

FHLBank Boston Equity Builder Program (EBP) - Connecticut limits household income to 80% of the area median income, which varies by county and household size. Households earning no more than 80% of area median income (per FHLBank Boston income calculation guidelines). Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

FHLBank Boston Equity Builder Program (EBP) - Connecticut serves homebuyers purchasing anywhere in Connecticut.

Applications for FHLBank Boston Equity Builder Program (EBP) - Connecticut go through Federal Home Loan Bank of Boston (FHLBank Boston), through approved member financial institutions, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.