Housing Our Workforce (HOW)

Housing Our Workforce (HOW) is a forgivable loan for homebuyers in Statewide County, Vermont, administered by FHLBank Boston. A matching-grant down payment and closing cost program for homebuyers earning above 80% and up to 120% of area median income. Provides a 2-to-1 match of the homebuyer's down payment, max grant up to $25,000 for 2026. Grants are forgivable after five years. Available in Vermont through participating FHLBank Boston members. 2:1 match of the homebuyer's down payment; max grant up to $25,000 (2026); for down payment, closing costs, and up to 2 points of rate buydown; forgivable after 5 years. Funding comes from FHLBank Boston.

Housing Our Workforce (HOW) offers up to $25,000 in assistance. Amounts are the program's published maximums, not an offer — FHLBank Boston determines any individual award.

Housing Our Workforce (HOW) is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Forgiven 5 years after closing; repayment calculated on sale/transfer/refinance before 5 years (per FHLBank Boston repayment calculation). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Housing Our Workforce (HOW) is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through FHLBank Boston-approved homebuyer counseling organization (first-time homebuyers only). $25,000 max & 2:1 match per FHLBB HOW resources (2026).

Housing Our Workforce (HOW) limits household income to 120% of the area median income, which varies by county and household size. Household income above 80% and up to 120% 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.

Housing Our Workforce (HOW) serves homebuyers purchasing in Statewide County, Vermont.

Applications for Housing Our Workforce (HOW) 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.