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FHLBank Boston Equity Builder Program (EBP) - Connecticut

Federal Home Loan Bank of Boston (FHLBank Boston), through approved member financial institutions · Connecticut

Last verified
See what you qualify forOfficial program site →
Assistance

$32,099

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is 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).

How much assistance does it provide?

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.

Do you have to pay it back?

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.

Who qualifies?

FHLBank Boston Equity Builder Program (EBP) - Connecticut is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course
  • 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.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

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.

Where does it apply?

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

How do you apply?

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.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact Federal Home Loan Bank of Boston (FHLBank Boston), through approved member financial institutions to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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