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MountainOne Bank Offers Assistance to Homebuyers through FHLBank Boston’s Housing Our Workforce Program

Tuesday, March 9, 2021

North Adams, MA – MountainOne Bank, with branches across Berkshire County and the South Shore, MA, has been selected to participate in the Federal Home Loan Bank of Boston’s Housing Our Workforce (HOW) Program, which assists local homebuyers with down-payment.

Through HOW, the FHLBank of Boston provides $2.5 million in grants to participating financial institutions to assist homebuyers with the purchase of an owner-occupied primary residence. Income-eligible households can receive up to $10,000 in a one-to-one match of down payments made at the time of purchase, which is forgivable after five years from the date of loan closing. To be eligible, borrowers must be earning more than 80 percent and up to 120 percent of the area median income address of their new home, and must complete a homebuyer counseling program, and post-purchase counseling approved by MountainOne Bank. Loans are subject to credit approval.

“Many homeownership programs are designed to assist lower-income individuals and families. It is often challenging for those in a slightly higher income range to afford housing, particularly in communities where home prices are rising. With this program, a greater number of borrowers who are incredibly important to the economic well-being of our communities will be able to achieve homeownership,” said Robert Fraser, MountainOne President & CEO.

MountainOne Bank is eligible to receive up to $100,000 in 2021 through HOW depending on availability of funds.

Those interested in learning more about how they may qualify for HOW funds can contact MountainOne Bank via the website or via phone at 855.444.6861. MountainOne Bank is Member FDIC. Member DIF. Equal Housing Lender.


MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank provides a complete array of personal and business banking and electronic services. MountainOne Bank is Member FDIC and Member DIF. MountainOne Insurance provides personal and business insurance, bonding services, and group benefits solutions. The financial advisors of MountainOne Investments offer securities and advisory services to individuals and businesses through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency or MountainOne Investments. MountainOne Bank is not a registered broker-dealer or Registered Investment Adviser. MountainOne Bank and MountainOne Insurance are not affiliated with Commonwealth. Products and services are offered at full service offices in the Berkshires (Pittsfield, North Adams, Williamstown) and on Boston’s South Shore (Quincy, Rockland, Scituate). MountainOne Investments’ main office is located at 85 Main Street, Suite 100, North Adams, MA 01247. (413) 664-4025

Insurance and Investments are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Funds are subject to investment risks, including possible loss of principal investment.


The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

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HOLIDAY NOTICE: In observance of Juneteenth National Independence Day, all MountainOne offices will be closed Wednesday, June 19. As always, our Digital Banking services are available 24 hours a day.