Additional Mortgage Options
Does buying a home feel out of reach? We offer government-insured and guaranteed mortgage programs to get you there. We have affordable interest rates and qualifying standards for first-time homebuyers, veterans, and other applicants.
Ready to get started?
Buying a Home?
Ask us about FHLBank Boston's Homeownership Assistance Programs
Equity Builder Program Grant Funds Are Available First-Come, First-Served
- Assists eligible homebuyers with up lo $25,000 in down payment and closing costs
- Available to households with incomes at or below 80% of HUD Area Median
- Income based on property location
- First-time homebuyers must complete homebuyer education/counseling program
Housing Our Workforce Grant Funds Are Available First-Come, First-Served
- Assists eligible homebuyers with up to $25,000 for down payment and closing costs
- Available to households earning more than 80% and up to 120% of HUD area median income based on property location
- First-time homebuyers must complete homebuyer education/counseling program
FHA Mortgages
This is a popular option for qualified buyers who meet minimum requirements set by the FHA.
- As little as 3.5% down payment
- Less stringent qualifications
- No income limitations
- Available on 1-4 unit properties
VA Loans
This is a great option for qualified veterans or active-duty military personnel.
- Available for purchases or refinances
- Up to 100% financing available
- No monthly mortgage insurance required
- 1-4 unit properties are eligible
- Cash Out refinancing is available
Home Possible Mortgages
No cash? No problem! This loan is great for qualified first-time homebuyers, move-up borrowers, and retirees.
- Down payments as low as 3%
- Stable monthly payments with fixed-rate mortgages
- Lower rates than standard products for qualified borrowers
- Reduced mortgage insurance premiums
- No cash out refinancing
HomeReady Mortgages
This mortgage offers great flexibility. It's another great option for qualified first-time homebuyers.
- Down payments as low as 3%
- Lower rates than standard products for qualified buyers
- Homebuyer education to help you prepare to buy and own a home is conveniently available online
- Additional income sources from rentals payments, or income from family or other household members can help you qualify, even if they aren't on the mortgage
How do I know which mortgage is the best fit for me?
Talk with one of mortgage specialists to understand more about mortgage qualifications.
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Programs, rates, terms and conditions subject to change without notice. All loans are subject to credit approval. Credit Union membership is required; members must maintain a membership account with a minimum of $5.00.
