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Housing Our Workforce (HOW)

FHLBank Boston · Statewide County, Vermont

Last verified
See what you qualify forOfficial program site →
Assistance

$25,000

The maximum the program publishes — not an offer

Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 5 years

What is 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.

How much assistance does it provide?

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.

Do you have to pay it back?

Housing Our Workforce (HOW) is forgiven after 5 years, so a buyer 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.

Who qualifies?

Housing Our Workforce (HOW) is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through FHLBank Boston-approved homebuyer counseling organization (first-time homebuyers only)
  • $25,000 max & 2:1 match per FHLBB HOW resources (2026).

The program excludes

  • Households above 120% 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?

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.

Where does it apply?

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

How do you apply?

Applications for Housing Our Workforce (HOW) 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 (first-time homebuyers only).

  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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