Bath Savings Announces Homebuyer Assistance Opportunities

Bath Savings has been selected to participate in two home-buying assistance programs: Federal Home Loan Bank of Boston's (FHLBank Boston) Housing Our Workforce (HOW) program and Equity Builder Program. Both programs provide assistance to income-eligible homebuyers who are purchasing one- to four-family homes that will serve as their primary residence.

Equity Builder Program (EBP) provides grants to financial institutions to help local first-time homebuyers with down payments and closing costs, as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80% of the area median income are eligible to receive up to $30,806 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling.

Housing Our Workforce (HOW) enables financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments and closing costs. Borrowers can receive 10% of the home sales price or up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling if they are a first-time homebuyer.

To learn more about applying for assistance, please contact the lenders at Bath Savings at 800-447-4559 or [email protected].