Dedham Savings Offers Assistance to Homebuyers Through FHLBank Boston’s Equity Builder Program
Dedham Savings has been selected to participate in Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.
The program provides grants to financial institutions to assist households earning up to 80% of the area median income. Borrowers are eligible to receive up to $22,000 in assistance on a first-come, first-served basis. Buyers must also complete a homebuyer counseling program.
“This grant program is designed to ease some of the challenges associated with a home purchase, particularly in areas where home prices are on the rise. We are pleased to participate to help borrowers become homebuyers, while also supporting the financial stability and vitality of our communities,” said Laura Dorfman, Executive Vice President for Residential Lending at Dedham Savings.
Dedham Saving is eligible to receive up to $220,000 in 2022 through the Equity Builder Program depending on availability of funds.
Since 2003, the Equity Builder Program has awarded more than $48.9 million in funds assisting 4,251 income-eligible households to purchase a home.
To learn more about applying for assistance, please visit www.dedhamsavings.com/mortgage-down-payment-assistance-options/.
About Dedham Savings
Incorporated in 1831, Dedham Savings is one of the oldest banks in Massachusetts still doing business under its original charter. The Bank delivers technology-driven solutions in a client-centric way to promote the financial success of the individuals, families, businesses, and non-profit organizations in the communities it serves. Dedham Savings manages $1.9 billion in assets through full-service locations in Dedham, East Dedham, Needham, Norwood, Sharon, South Boston, Walpole, and Westwood, Massachusetts. Dedham Savings is Member FDIC, Member DIF, and an Equal Housing Lender.
About FHLBank Boston
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.