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Specialized Mortgage & Grant Programs

Specialized Mortgage & Grant Programs

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.

We partner with MassHousing, the Federal Home Loan Mortgage Corporation (Freddie Mac), and Federal National Mortgage Association (Fannie Mae) to provide borrowers with modest incomes access to low-cost home financing. We also serve first-time homebuyers with Federal Housing Administration (FHA) loans. And our nation’s service members, veterans and eligible surviving spouses can qualify for our U.S. Department of Veterans Affairs VA Loans.

Income-eligible borrowers can also qualify for the Equity Builder Program, which offers grants of up to $15,000 for assistance with down payments, closing costs and more.

Which Mortgage Is Right for You?

Our expert mortgage lenders are happy to review your specific situation, and help you choose the option that best suits your needs. Call 888-828-1690 today, or contact your lender 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 down payments as low as 3%. 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.


Our FHA Loans are another option for first-time homebuyers with low to moderate incomes. FHA Loans offer competitive rates, flexible loan terms, and down payments as low as 3.5%. Additionally, your down payment can come from a family member, employer or charitable organization. FHA Loans require a 1.75% upfront mortgage insurance premium, as well as ongoing mortgage insurance until 80% loan-to-value is reached.

Contact your local Bank of Canton mortgage lender to learn more about our FHA Loans, or visit the U.S. Department of Housing and Urban Development’s website.


Service members, veterans and eligible surviving spouses can qualify for our VA Home Loans. VA Loans do not require a down payment or mortgage insurance. They also have regulated closing costs, and typically offer lower interest rates. A 2.15% non-refundable VA Funding Fee is required at closing. Maximum loan amount determined by property location.

Contact your local Bank of Canton mortgage lender to learn more about VA Loans, or visit the U.S. Department of Veterans Affairs website.


Borrowers who finance their home purchase with a MassHousing, HomeReady or Home Possible mortgage may be eligible for an Equity Builder Program grant of up to $15,000, for assistance with down payments, closing costs and more.