Washington Trust Offers Assistance to Homebuyers Through FHLBank Boston Program
March 21, 2019
March 21, 2019
Westerly, RI - The Washington Trust Company 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.
The $3.6 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 $15,000 in assistance on a first come first serve basis. Buyers must also complete a homebuyer counseling program.
“Homeownership is not easily attainable for many households, so we are pleased to offer this assistance to help individuals and families purchase a home,” said Mary Noons, Washington Trust Executive Vice President & Chief Retail Lending Officer. “Owning a home helps build wealth and create financial stability, and programs that assist homebuyers can be effective in adding to the vibrancy of our communities.”
Washington Trust is eligible to receive up to $150,000 in 2019 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 Washington Trust at (800) 475-2265 or find a mortgage specialist in your area by visiting this page.
ABOUT WASHINGTON TRUST
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.
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.