FHLBank Boston Equity Builder Program (EBP) - Maine

FHLBank Boston Equity Builder Program (EBP) - Maine is a grant for homebuyers in Statewide, Maine, administered by Federal Home Loan Bank of Boston, via approved member institutions. The Equity Builder Program (EBP) offers forgivable grants to first-time homebuyers earning up to 80% of AMI for down payment, closing costs, rehabilitation, interest-rate buydown (up to 2 points), and homebuyer counseling. Grants are made when buyers close a first mortgage with a participating FHLBank Boston member. Available statewide in Maine; forgivable after a 5-year retention period. Forgivable DP/closing-cost grant. Can fund rehab and rate buydown. First-time buyers up to 80% AMI. Funding comes from FHLBank Boston Affordable Housing Program (AHP) set-aside.

FHLBank Boston Equity Builder Program (EBP) - Maine is structured as a grant, so it is not repaid. The assistance is recorded in Subordinate position. 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) - Maine 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, through FHLBank Boston-approved homebuyer counseling organizations (required for first-time buyers). Residency requirement: Property must be in Maine (New England). 5-YEAR RETENTION PERIOD: forgivable after 5 years; pro rata repayment if sold/transferred/refinanced before 5 years, due only if over $2,500. First-time homebuyers only. Cannot combine with FHLBank AHP/HOW/Lift Up. MAX GRANT set annually as a % of AHP set-aside; official site says amount varies yearly and to ask the member - no confirmed 2026 dollar figure, so assistance_amount left blank.

FHLBank Boston Equity Builder Program (EBP) - Maine limits household income to 80% of the area median income, which varies by county and household size. Households earning no more than 80% of AMI for the state/city/town where the property is located. Includes all income for all household members occupying the property. The limit applies to total household income, not only the borrower’s. 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) - Maine can be used for Single Family, Condo, 2-4 Unit, Townhouse, and Manufactured.

FHLBank Boston Equity Builder Program (EBP) - Maine serves homebuyers purchasing in Statewide, Maine.

Applications for FHLBank Boston Equity Builder Program (EBP) - Maine go through Federal Home Loan Bank of Boston, via approved member institutions, which publishes the current terms and the application steps on its own site. Funds are reserved through Members enroll/reserve through FHLBank Boston Community Lending portal; first-come, first-served; signed P&S required. 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.