MIDDLETOWN, CT - Once again, Liberty Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program. This $3.6 million program assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.
Through FHLBank’s Equity Builder Program, grants are provided to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first come first serve basis. Buyers must also complete a homebuyer counseling program. Liberty Bank has received grant funding from this program since 2004.
“Homeownership is not easily attainable for everyone, so we are pleased to offer this assistance, once again, to help individuals and families purchase their dream homes. Homeownership helps build wealth and create financial stability. Programs that assist homebuyers also effectively add to the vibrancy of our communities,” said Shirley Cote, Senior Vice President, Retail Lending Manager, Liberty Bank.
Liberty Bank is proud to promote home ownership and increase access to credit in underserved Connecticut communities, helping more individuals achieve homeownership. The Bank offers various home lending products with lower rates and features that fit every financial situation.
In 2019, Liberty Bank is eligible to receive up to $150,000 through the Equity Builder Program depending on availability of funds. Since 2003, the Equity Builder Program has awarded more than $38.8 million in EBP funds assisting 3,512 income-eligible households to purchase a home.
To learn more about applying for assistance, please contact a Liberty Bank Loan Officer in your area.
About Liberty Bank
Established in 1825, Liberty Bank is Connecticut’s oldest bank, with more than $5.1 billion in assets and 55 banking offices throughout the central, eastern, western and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Named in 2019 as one of the World’s Best Banks, ranking 4th in the United States by Forbes and a ‘Top Workplace’ by the Hartford Courant for seven consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.
About FHLBank Boston
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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