Down Payment Assistance Programs

Is your lack of down payment
keeping a picket fence out of reach?


Let’s face it, buying a first home is not only challenging financially but can be really nerve-racking. With rising home prices, high down payment requirements and upfront closing costs, North Shore Bank recognizes how difficult entering the housing market can be for some first-time buyers.

That’s why North Shore Bank, in association with the Federal Home Loan Bank of Boston, is pleased to offer two down payment assistance programs:

 

Equity Builder Program (EBP)

Under this program, qualified NSB mortgage candidates* can:
 
  • Obtain a grant which can then be used for down payment, closing cost assistance, rehabilitation assistance and homebuyer counseling
  • Get up to as much as $22,000 per eligible household
  • Income limits at or below 80% of the area median income
  • Lender Credit of $750**
 

Housing Our Workforce Program (HOW)

Under this program, qualified NSB mortgage candidates* can:
 
  • Obtain a grant which can then be used for down payment
  • Get up to $20,000 per eligible HOW household. This is a 1 to 1 match with your down payment
  • Income limits above 80% and up to 120% of the area median income
  • Lender Credit of $750**
 
*Income limits apply and subject to credit approval. The EBP and HOW programs are offered for a limited time and funds are awarded on a first-come, first-served basis — not guaranteed or reserved in advance.
**Cannot be combined with any other offer.
 
For additional information about down payment assistance programs, reach out to any of our mortgage originators. For current rates or additional information about home buying options at North Shore Bank, call Customer Support at (978) 573-1300 (during regular operating hours).

Need to know how much you can afford? Try out one of our convenient mortgage calculators.
North Shore Bank regularly hosts First Time Homebuyer sessions with our friends at Coastal Homebuyer Education. For a complete schedule of upcoming seminars, CLICK HERE.

Apply Now!

To begin the mortgage application process, just click the button below and follow the onscreen instructions.