Equity Builder Program (EBP)

Equity Builder Program (EBP) is a grant for homebuyers in Statewide County, Vermont, administered by FHLBank Boston. A grant program offered through FHLBank Boston member institutions providing down payment, closing cost, home rehabilitation, interest-rate buydown (up to 2 points), and homebuyer counseling assistance to first-time homebuyers earning up to 80% of area median income. Available across New England including Vermont; listed by VHFA as an 'other special program.'. Grant for down payment, closing costs, rehabilitation, up to 2 points of rate buydown, and up to $500 of homebuyer counseling; for first-time buyers at or below 80% AMI. Funding comes from FHLBank Boston (Affordable Housing Program set-aside).

Equity Builder Program (EBP) 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.

Equity Builder Program (EBP) 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 organization (required for first-time homebuyers). Per-household max grant not stated on FHLBB primary pages (only a per-member annual cap); not asserted.

Equity Builder Program (EBP) limits household income to 80% of the area median income, which varies by county and household size. Household income no more than 80% of area median income. 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.

Equity Builder Program (EBP) can be used for single family, 1-4 family, townhome, and condo.

Equity Builder Program (EBP) serves homebuyers purchasing in Statewide County, Vermont.

Applications for Equity Builder Program (EBP) go through FHLBank Boston, 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.