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Housing Our Workforce

Through FHLBank Boston members, Housing Our Workforce (HOW) offers matching grants to households earning more than 80 percent and up to 120 percent of the area median income to help them with down-payment assistance. Individual homebuyers and borrowers may not apply directly to HOW. Interested homebuyers must work with a FHLBank Boston member financial institution that has been approved to participate in the program. If you are a homebuyer, please contact a member financial institution.

Starting in 2019, FHLBank Boston has made a commitment to offer grants through the HOW program for three years. In 2019, $2 million has been set aside to fund a two-to-one match of down payments made at the time of purchase by eligible homebuyers. Home purchase price limits apply. See Home Purchase Price Limits document listed below.

Operationally, HOW is similar to our Equity Builder Program, which is designed to assist homebuyers with lower incomes. Once approved for HOW, members may make enrollment requests of up to $20,000 from the pool of funds to assist income-eligible households on a first-come, first-served, homebuyer-by-homebuyer basis. Members may apply for an enrollment cap up to $100,000.

Member applications for the HOW program will be accepted from March 20, 2019 through April 9, 2019. When the application period opens, members can apply here.

To learn more, read the FAQs or refer to the documents below.

Resources for Members:

Home Purchase Price Limits
Homeownership Assistance Programs Comparison Grid
Equity Builder Program/Housing Our Workforce Procedures
Equity Builder Program/Housing Our Workforce Disclosure
Certification of Zero Income
Income Calculation Guidelines

HOW Next Step Webinars

HOW Informational Webinar
Play Webinar | View Slides
This presentation outlines the new program requirements and the HOW application process and program requirements. It also highlights the differences between HOW and EBP.

Mortgages and Notes:

HOW CT Mortgage
HOW CT Standard Retention Note
HOW MA, ME, NH, RI, VT Mortgage
HOW MA, ME, NH, RI, VT Standard Retention Note
HOW CT, MA, ME, NH, RI, VT Deed Restriction


For more information, please call Kaitlyn Mulhern in our Housing and Community Investment department at 617-292-9606.

Community Lending Plan Adobe PDF icon
Rates Specials
Products and Solutions Guide Adobe PDF icon
FAQs: Helping to House New England Adobe PDF icon