FTHB Grant Information

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Stoughton Co-Operative Bank received approval to offer Federal Home Loan Bank's Equity Builder Program grants for eligible First Time Home Buyers. The grants are part of a New England wide grant program.

 As an approved participant in the Equity Builder Program (EBP), Stoughton Co-Operative Bank may submit enrollment requests for funding on behalf of income-eligible home buyers. Grant funds are awarded to participating members in increments of up to $10,000 on a first-come, first-serve, home-buyer by home-buyer basis; EBP funds are not guaranteed or reserved in advance for any participating member or homebuyer.

 “This makes todays real estate market even more attractive to first time homebuyer’s.  Rates and prices are still low and with the added benefit of downpayment/closing cost assistance there couldn’t be a better time to buy.  We are excited to participate in this program” stated Chris Milne, Stoughton Co-Operative Bank’s, Senior Loan Officer. 

 Eligible Borrowers household income must not exceed 80% of the median income for the area as determined by HUD.