GFA Federal Credit Union

Equity Builder Program

 

GFA is pleased to be participating in the Federal Home Loan Bank of Boston's 2019 Equity Builder Program.

We are excited to now offer members aid in their home purchase with the Equity Builder Program. This program provides up to $15,000 in home buying assistance. 

Get Prequalified Today.

The Equity Builder Program* provides First-time Homebuyers up to $15,000 of grant money to eligible members.  These funds can be used for closing costs, down payment, or pre-paid mortgage insurance.This program is for a limited time.  Funds will be awarded on a first-come, first-serve basis and are not guaranteed.  Please review the program requirements below.
  • Qualification based upon income levels*
  • For primary residencies only
  • Program is for first-time homebuyers
  • First-time homebuyers are eligible for $375 appraisal credit

*Grant is provided by the Federal Home Loan Bank of Boston through their Equity Builder Program. **Buyers eligible to receive assistance through the EBP are individuals and households earning no more than 80 percent  of the area median income, based on their future address. To be eligible to receive assistance through the EBP, buyers must complete a home-buyer-program administered by an agency designated by the EBP approved member financial institution. The program must include pre-and post-purchase counseling. Interest would not accrue on the grant and the proceeds would only be due if the property is sold within the first five years of home ownership. May not be combined with any  other type of down payment programs.

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