Federal Home Loan Bank's Equity Builder Program

Funder: All One Credit Union (in partnership with Federal Home Loan Bank)

Geographic Scope: Massachusetts, including Worcester County and surrounding counties

Focus Areas: Down payment and closing cost assistance for first-time homebuyers and displaced homemakers

Award Amount: Up to $11,000 per eligible homebuyer in down payment and closing cost assistance (varies by year - historically $10,000-$15,000)

Total Program Funding: Up to $110,000 distributed annually (historically $150,000 in earlier years)

Eligibility Requirements

• First-time homebuyers or displaced homemakers
• Subject to credit approval
• Must meet Equity Builder Program qualifications criteria
• Income limits apply (vary by county)
  • Worcester County maximum income limit for family of four: $68,650 (as of 2018); $68,000 (2017); $63,900 (2014); $64,400 (2013)

How It Works

• First come, first serve basis
• Funds distributed until grant is depleted
• Available starting in late March (historically)
• Assistance provided for down payment and closing costs

Contact Information

• Phone: 800-649-4646 or 978-466-7233
• Address: 20 Adams Street, Leominster, MA 01453
• Email: Info@all-onecu.com
• Speak with a mortgage specialist for eligibility guidelines and application

Application Process

1. Contact a Mortgage Specialist
   • Call 800-649-4646 or 978-466-7233
   • Request to speak with a mortgage specialist
   • Inquire about Equity Builder Program eligibility
2. Determine Eligibility
   • Confirm you meet first-time homebuyer or displaced homemaker status
   • Verify your household income is within county limits
   • Understand credit approval requirements
3. Submit Application
   • Complete required application materials through All One Credit Union
   • Application details not fully specified in source materials
4. Approval Process
   • Subject to credit approval
   • Funds provided on first come, first serve basis

Required Materials

• Income documentation (to verify income limits)
• Credit approval documentation
• Specific application materials available through mortgage specialist consultation

Notes

• No specific deadline mentioned; program runs until funds are depleted
• Income limits vary by county
• Assistance is non-repayable (grant, not loan)