Specialized Mortgage & Grant Programs
Making Homeownership More Affordable
Bank of Canton is proud to participate in several programs that make homeownership possible for more residents in our communities.
Low-Cost Loans & Down Payment Assistance
We partner with MassHousing, the Federal Home Loan Bank of Boston (FHLB Boston), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal National Mortgage Association (Fannie Mae) to provide low-cost home financing to first-time homebuyers and experienced homeowners with modest incomes.
Grant Programs
In addition to affordable loans and down payment assistance, income-eligible homebuyers can also qualify for thousands of dollars in grants through the Equity Builder Program, Housing Our Workforce Program, and Lift Up Homeownership Program.
Which Programs Do You Qualify For?
Our expert mortgage lenders are happy to review your specific situation, and help you choose the options that best suit your needs. Call 888-828-1690 today, or contact one of our lenders directly.
Specialized Mortgages & Grants
Through our partnership with MassHousing, we’re able to offer low-cost home loans to help low- to moderate-income residents of Massachusetts buy or refinance a home. We lend money to qualifying borrowers at below-market interest rates, with low or no down payment requirements. Learn more about our MassHousing loan options.
Low- to moderate-income borrowers are eligible for HomeReady® and Home Possible® loans. These programs feature down payments as low as 3% and greater underwriting flexibility with respect to income and down payment sources.
First-time homebuyers who finance their purchase with a MassHousing, HomeReady or Home Possible mortgage may be eligible for an Equity Builder Program grant of up to $25,000, for assistance with down payment costs, closing costs, property rehabilitation costs and homebuyer counseling services.
Housing Our Workforce grants provide qualifying buyers with up to $25,000 in assistance to use toward down payment and closing costs. This program features higher income limits than the Equity Builder Program, and is open to both first-time homebuyers as well as experienced homeowners.
The Lift Up Homeownership Program offers up to $50,000 in down payment and closing cost assistance to income-eligible people of color purchasing their first home. Only one borrower has to self-certify that they meet the program’s race and ethnicity guidelines.
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