/home/client/bank-of-canton/public_html/wp-content/themes/boc-responsive/page.php 10644

Housing Our Workforce Program

Housing Our Workforce Program

Housing Our Workforce Program

We’re proud to participate in the Housing Our Workforce (HOW) Program, funded by the Federal Home Loan Bank of Boston.

The HOW Program provides down payment and closing cost funds (including prepaids and escrows), up to $25,000, to income-eligible homebuyers purchasing an eligible property. The funds are five-year “forgivable” grants – which means they do not need to be repaid, as long as you don’t sell your home during the first five years.*

The funds may be used in conjunction with either our conventional loan programs or our specialized loan programs like MassHousing, HomeReady® and Home Possible®. The number of available grants is limited, and awarded on a first-come, first-served basis.

This program is similar to the Equity Builder Program, but with purchase price limits and higher income limits. It is also open to both experienced homeowners and first-time homebuyers alike.


  • Households earning more than 80% but not more than 120% of the area median income (AMI) of their future property are eligible to apply. (We can calculate your AMI for you.)
  • Single-, 2-, 3- or 4-family, owner-occupied, primary residences (including condos) are eligible.
  • The future property’s purchase price must not exceed the average area purchase price for mortgage revenue bonds. (We can help you with this too.)
  • Homeownership education and counseling from an approved agency is required for first-time homebuyers only.

Find Out if You Qualify

Have a conversation with one of our mortgage lenders today about the Housing Our Workforce Program. We’ll be able to tell you if you qualify. If you do, we’ll be glad to help you prepare a HOW Program grant application.


*A portion of the grant may need to be repaid if you sell your home within the first five years. Households that participate in the Housing Our Workforce Program will receive a Homebuyer Information document that describes the details of the program and other information to assist borrowers in understanding the program, their obligations, and their repayment options.

Related Products and Services

We can help qualifying borrowers receive up to $30,806 in financial assistance through the Equity Builder Program.


Low-cost MassHousing loans help low- to moderate-income residents of Massachusetts buy or refinance a home.


Loans for borrowers with modest incomes featuring low down payments and underwriting flexibility with respect to income and down payment sources.