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 the Equity Builder Grant Program. Under this program, qualified NSB mortgage candidates* can:
- Obtain a grant which can then be used for down-payment and closing cost assistance
- Get up to as much as $15,000 per eligible household
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. For instance, each year that passes the grant would be reduced by 20% and after five years, the Equity Builder Grant would effectively be forgiven . . . you would not be required to repay the grant portion.
*Income limits apply and subject to credit approval. The Equity Builder Grant Program is offered for a limited time and funds are awarded on a first-come, first-served basis — not guaranteed or reserved in advance.
For current rates or additional information about home buying options at North Shore Bank, call Customer Support at (978) 573-1300 (during normal operating hours) or reach out directly to any of our mortgage originators.
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.