Mortgages

Community Lending Programs

We have partnered with the Federal Home Loan Bank of Boston to provide access to programs designed to help neighbors build equity, or open the door to home ownership.

Housing Our Workforce (HOW)

Housing Our Workforce is a first-come, first-served grant program run by the Federal Home Loan Bank of Boston (FHLBank Boston) to support working families and individuals looking to purchase a home within the community.

The program provides two-to-one matches to homebuyers earning more than 80% and up to 120% of the area's median income. Grant recipients must also attend a homebuyer education/counseling program.

Eligible homebuyers can receive up to $22,000 in assistance and can be used to cover costs such as:

• Down payments
• The purchase of owner-occupied primary residences

Walpole Co-operative is eligible to receive up to $150,000 through HOW, depending on fund availability.

Equity Builder Program (EBP)

The Equity Builder Program is a first-come, first-served grant program run by the Federal Home Loan Bank of Boston (FHLBank Boston) and is available to households with incomes up to 80% of the HUD area median income based on property location.

Assisted homebuyers can receive up to $22,000 in costs such as:

• Down payments
• Closing costs
• Costs associated with repairing your home

Recipients of the grant must also attend a homebuyer education/counseling program.

Walpole Co-operative Bank is eligible to receive up to $220,000 in 2022, depending on EBP funding availability.

Home Possible Program

The Freddie Mac Home Possible Program^® looks to bring affordable mortgage solutions to potential borrowers seeking to accomplish their goal of owning a home. The program provides access to flexible sources of down payments and covers a variety of properties. Eligible borrowers include:

• Borrowers looking for a low down payment solution
• Low-to low-income buyers
• First time buyers, move-up borrowers, and retirees

First-time homebuyers participating in the program may also need to complete a homebuyer education course. To determine if you are an eligible borrower, visit the Home Possible^® Income and Property Eligibility Tool.

Lift Up Homeownership Program

The Lift Up Home Ownership Program is a first-come, first-served pilot homeownership assistance program run by the Federal Home Loan Bank of Boston (FHLBank Boston) and provides financial assistance to Black, American Indian or Alaska Native, Hispanic, Asian, and Native Hawaiian or Pacific Islander first-time home buyers.

Eligible borrowers include individuals earning up to 120% of the area median income who are first-time homebuyers. Homebuyers can receive up to $50,000 in assistance for:

• Down payments
• Closing costs

Recipients of the grant are required to complete a homebuyer counseling program prior to receiving the funds.

The Lift Up Homeownership Program is classified as a Special Purpose Credit Program under federal law.