Franklin Savings Bank to distribute Federal Home Loan Bank assistance to home buyers

FRANKLIN — Franklin Savings Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with down payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

“We are pleased to be able to offer this assistance to help ease some of the challenges associated with purchasing a home," FSB President & CEO Ronald Magoon said. "Homeownership is key to building wealth and creating financial stability, and programs like the Equity Builder Program are a critical component to ensuring that our communities continue to thrive." FSB is eligible to receive up to $110,000 in 2018 through the Equity Builder Program depending on availability of funds.

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 $11,000 in assistance on a first come, first served basis. Buyers must also complete a homebuyer counseling program. 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. To learn more about applying for assistance, please contact FSB’s residential lending team at 603-934-4445, or schedule an appointment online by visiting www.fsbnh.bank/personal-banking/mortgages-loans/residential-lending-team/.