MountainOne Bank Offers Assistance to Homebuyers Through Federal Home Loan Bank Program
MountainOne Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program (EBP), which assists local homebuyers with down-payment and closing costs, as well as homebuyer counseling and rehabilitation assistance.
The $3.1 million program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $5,500 in assistance on a first come, first served basis. Buyers must also complete a homebuyer counseling program.
“We are pleased to be able to offer this assistance to help ease some of the challenges associated with a home purchase. Homeownership is key to building wealth and creating financial stability, and programs that assist homebuyers are a critical component in ensuring that our communities continue to thrive,” said Melissa Weber, MountainOne Bank Vice President.
MountainOne Bank is eligible to receive up to $110,000 in 2018 through the Equity Builder Program depending on availability of funds.
Since 2003, the Equity Builder Program has awarded more than $35 million in EBP funds assisting 3,150 income-eligible households to purchase a home.
Those interested in learning more about how they may qualify for EBP funds can contact MountainOne Bank via the www.mountainone.com website or via phone at 855.444.6861.
MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank has assets of approximately $875 million, and provides a complete array of personal and business banking and electronic services. MountainOne Insurance provides personal and business insurance, bonding services and group benefits solutions. MountainOne Investments provides investment advisory services and products to individuals and businesses (financial professionals offering securities and advisory services through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor). 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).