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Equity Builder Program (EBP)
In 2016, Maine Savings members received over $100,000 in assistance for down payments and closing costs through our Equity Builder Program (EBP).
Funds for 2017 will be available beginning in March. Contact one of our Loan Officers now for more information.
Get Up to $10,000 in Down Payment and Closing Costs Assistance
Our Equity Builder Program (EBP) helps bridge the gap for first-time home buyers who are close to being able to buy a home, but who may need a little bit of help.
About the Equity Builder Program*
- To be eligible, you must meet income level requirements**
- Recipients must attend homebuyer education/counseling program
- Limited time program—grant funds are first-come, first-served
- Can be used with CU Promise 90 loan
- Maine Savings will reimburse appraisal cost for loan closed with this EBP program
*Grant is provided by the Federal Home Loan Bank of Boston through its Equity Builder Program. **Buyers eligible to receive assistance through the EBP are individuals and households earning no more than 80 percent of the area median income, based on their future address. To be eligible to receive assistance through the EBP, buyers must complete a home-buyer-counseling program administered by an agency designated by the EBP-approved member financial institution. The program must include pre-and post-purchase counseling. Interest would not accrue on the grant and the proceeds would only be due if the property is sold within the first five years of home ownership. May not be combined with any other type of down payment programs.