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Equity Builder Program (EBP)

Federal Home Loan Bank of Boston (FHLBank Boston) · Statewide, New Hampshire

Last verified
See what you qualify forOfficial program site →
Assistance

$25,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is Equity Builder Program (EBP)?

Equity Builder Program (EBP) is a forgivable loan for homebuyers in Statewide, New Hampshire, administered by Federal Home Loan Bank of Boston (FHLBank Boston).

  • The Equity Builder Program (EBP) is FHLBank Boston's homeownership set-aside grant for first-time homebuyers earning up to 80% of area median income. Grants - delivered through approved member banks and credit unions in New Hampshire - help with down payment, closing costs, an interest-rate buydown of up to 2 points, rehabilitation costs tied to the purchase, and up to $500 of homebuyer counseling. The grant is forgivable over five years and is repaid on a pro-rated basis only if the home is sold or no longer occupied as the primary residence during that period.
  • Down-payment and closing-cost grant.
  • Forgivable after 5 years.
  • Up to 2-point interest-rate buydown.
  • Can fund purchase-related rehab.
  • Up to $500 toward homebuyer counseling.
  • Funding comes from FHLBank Boston Affordable Housing Program (AHP) set-aside funds.

How much assistance does it provide?

Equity Builder Program (EBP) offers up to $25,000 in assistance.

  • Award tiers: Per-household maximum set annually by FHLBank Boston. Member institution enrollment cap graduated: $160,000 for the first two funding-release periods, increasing to a maximum of $320,000 for the remaining releases.
  • Amounts are the program's published maximums, not an offer — Federal Home Loan Bank of Boston (FHLBank Boston) determines any individual award.

Do you have to pay it back?

Equity Builder Program (EBP) is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale or transfer (or ceasing to occupy as primary residence) within 5 years of closing; repayment pro-rated in favor of the homeowner and only owed if the calculated repayment exceeds $2,500.
  • The assistance is recorded in Subordinate (grant secured by retention agreement/mortgage) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Equity Builder Program (EBP) 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, through FHLBank Boston-approved counseling organization. NH-approved: AHEAD, Inc.; Community Home Solutions; GreenPath Financial Wellness; NeighborWorks Southern New Hampshire; New Hampshire Housing Finance Authority.
  • DRAFT (dpa-gap-finder 2026-06-11): pending review. First-time homebuyers only. No cash back to the buyer in excess of $250; cannot reimburse earnest-money deposits. A signed offer/P&S with a property address is required to reserve funds; final P&S within 30 days. Per-household maximum is set annually and varies by year - confirm current amount with the member bank (max shown reflects order-of-magnitude set-aside maximum, not a guaranteed amount).

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?

Equity Builder Program (EBP) limits household income to 80% of the area median income, which varies by county and household size.

  • Household income may not exceed 80% of area median income (AMI); AMI derived from the specific state/city/town of the property. ALL income for ALL household members occupying the property is counted.
  • 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.

What kind of home can it be used for?

Equity Builder Program (EBP) can be used for Single Family, Condo, and 2-4 Unit.

Where does it apply?

Equity Builder Program (EBP) serves buyers purchasing in Statewide, New Hampshire.

How do you apply?

Applications for Equity Builder Program (EBP) go through Federal Home Loan Bank of Boston (FHLBank Boston), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through FHLBank Boston-approved counseling organization. NH-approved: AHEAD, Inc.; Community Home Solutions; GreenPath Financial Wellness; NeighborWorks Southern New Hampshire; New Hampshire Housing Finance Authority..

  2. Contact Federal Home Loan Bank of Boston (FHLBank Boston) to reserve funds

    Funds are reserved through First-come, first-served; member institutions reserve grants through FHLBank Boston's Community Lending online system once the buyer has an executed offer/Purchase & Sales agreement., 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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