DANBURY, CONN. (April 1, 2026)— Union Savings Bank (USB) has been approved to participate in Federal Home Loan Bank of Boston’s homeownership assistance programs, Equity Builder Program, Housing Our Workforce, and Lift Up Homeownership. All three programs help income-eligible homebuyers who are purchasing one- to four-family homes that will serve as their primary residence.
Equity Builder Program (EBP) provides grants to financial institutions to help local first-time homebuyers with down payments and closing costs as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80% of the area median income are eligible to receive up to $32,099 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling.
Housing Our Workforce (HOW) enables financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments and closing costs. Borrowers can receive up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling if they are a first-time homebuyer.
Lift Up Homeownership (LUH) provides grant funding to financial institutions to assist first-generation homebuyers with incomes up to 120% of the area median income who are purchasing homes in New England. Income-eligible homebuyers may receive up to $40,000 for down payments and closing costs.
“At Union Savings Bank, we recognize that limited housing inventory and rising prices have made homeownership feel out of reach for many. These three grant programs—Equity Builder, Housing Our Workforce, and Lift Up Homeownership—are vital tools that can potentially help first-time and first-generation buyers compete in a tight market,” said Robert Monti, Senior Vice President, Residential and Consumer Lending. “By pairing these grants with our full suite of loan products, we are providing the extra support needed to help low-to-moderate-income families secure a seat at the closing table.”
Union Savings Bank is eligible to reserve up to $320,000 through the EBP, up to $250,0000 through HOW, and up to $400,000 for Lift Up Homeownership depending on availability of funds in 2026.
To learn more about applying for assistance through these programs, please visit https://www.unionsavings.com/fhl-grants-2026/
Bi-lingual mortgage specialists are also available.
Consumers may also contact:
David Colby
VP Sales Manager – Residential Lending
dcolby@unionsavings.com
203.731.6131
About Union Savings Bank
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $3 billion mutual bank dedicated to being the bank of choice. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment, trust and insurance products throughout western Connecticut with 25 offices in Bethel, Brookfield, Canton, Danbury, Goshen, Kent, Litchfield, Marble Dale, Monroe, New Fairfield, New Milford, Newtown, Norwalk, Ridgefield, Roxbury, Southbury, Torrington and Washington Depot. The bank provides financial services to individuals, businesses, not-for-profit organizations, and government entities through its commercial, residential and consumer lending, corporate services, retail banking and wealth management divisions. Please visit www.unionsavings.com for more information. Member FDIC. Equal Housing Lender.
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.
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Community Relations Contact:
Michele Bonvicini
Union Savings Bank
203.830.6045
mbonvicini@unionsavings.com