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Equity Builder Program (EBP)

FHLBank Boston · Statewide County, Vermont

Last verified
See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is 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).

Do you have to pay it back?

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.

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 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.

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 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.

What kind of home can it be used for?

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

Where does it apply?

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

How do you apply?

Applications for Equity Builder Program (EBP) go through 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 homebuyer counseling organization (required for first-time homebuyers).

  2. Contact FHLBank Boston 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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