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Affordable Housing PROGRAM
Equity Builder PROGRAM
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EBP Forms, Applications, and Instructions

All applications for the EBP must be submitted electronically through the Bank's online application system by the date and time specified for each round.

Go to the Application

EBP Procedures
The EBP Procedures itemize the steps that members and FHLB Boston must follow to implement the Equity Builder Program and administer all transactions from the advance preparations for the annual funding round, receiving and reviewing applications, income calculations, enrollment, disbursements, and monitoring and other regulatory obligations. This is a useful reference for members.

EBP Online Application Manual
EBP Enrollment/Disbursement Manual
These manuals cover every step in the application, income calculation, enrollment, and disbursement processes. The EBP Online Application Manual reviews the entire application process and online screens, including the EBP Agreement. The EBP Enrollment/Disbursement Manual provides an overview and detailed step-by-step, screen-by-screen instructions for completing an income calculation and enrollment, and for requesting disbursement of EBP subsidy funds.

EBP Application Round Training   View Slides
This presentation outlines the EBP application process and program requirements. It also introduces the home-buyer enrollment process.

EBP Next Steps Webinars
EBP Enrollment Training  View Slides
EBP Disbursement Training  View Slides
These training presentations provide program guidelines and step-by-step online data-entry procedures.

Home-Buyer Enrollment and Disbursement Requests
Once you have been approved to participate in the EBP, all home-buyer enrollments must be submitted online through the Forms and Applications web page. Select the "Equity Builder Program (members only)" link. Once you have logged in, continue to the “Create/Manage My Homebuyer Enrollments” section to submit the enrollment or disbursement request.

The following forms and instructions are required when establishing and calculating a household's income, and when drafting the retention mechanism.

Income Calculation Guidelines
These income guidelines/standards must be used by members for the calculation of household income. The same standards are used by the HCI staff to review and approve household income prior to accepting the enrollment of a home buyer.

Homebuyer Information, Household Member and Income Worksheet, and Authorization to Release/Certification of Information
Participating households receive a Homebuyer Information document that describes the details of the EBP and other information to assist borrowers in understanding the program, their obligations, and their repayment options. The Authorization to Release Information form is attached to the Homebuyer Information document. This form must be signed by all adult household members to release household income information to FHLB Boston. The Income Worksheet has been developed as an aid to the origination process to identify all income sources received by the household. The entire fully executed six-page document must be uploaded at the time of enrollment.

Certification of Zero Income
This form must be signed by any adult household member to certify that the household does not anticipate receiving income from any source and does not anticipate changes in this status during the following 12 months.

EBP and FHA: HUD Mortgagee Letter 2010-42E
Effective December 28, 2010, the U.S. Department of Housing and Urban Development published Mortgagee Letter 2010-42 clarifying that EBP subsidy grants secured with subordinate mortgages and notes qualify as an acceptable source of downpayment assistance which can be used in conjunction with FHA-insured mortgage financing.

EBP Mortgage: CT
This Standard Retention Mortgage is for use with properties in Connecticut. Please use this form in combination with the EBP Standard Retention Note for Connecticut. The mortgage must be recorded.

EBP Mortgage: MA, ME, NH, RI, and VT
This Standard Retention Mortgage is for use with properties in Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont. Please use this form in combination with the EBP Standard Retention Note for Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont. The mortgage must be recorded in the state where the property is located.

EBP Standard Retention Note: CT
For use with the EBP Mortgage for Connecticut.

EBP Standard Retention Note: MA, ME, NH, RI, and VT
For use with the EBP Mortgage for Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont.

In the event of a resale, refinancing, or foreclosure of an EBP-assisted home, it is imperative that the member notify the FHLB Boston as soon as possible so that we can review the situation and determine the regulatory implications, including possible full or pro rata recapture. Please note that the recorded EBP mortgage and note include the requirement that FHLB Boston be notified in such events.



AHP Implementation Plan
Products and Solutions Guide
Rates Specials