Hometown Mortgage secures nearly $1.5 million in grants for local homebuyers

Hometown Mortgage, our mortgage company, recently announced it had helped more than 50 low- and moderate-income families across Massachusetts and neighboring states buy homes through securing nearly $1.5 million in grants from homeownership programs in 2025.

Hometown Mortgage helped borrowers secure more than $1 million in grants from three programs funded by FHLBank Boston. The Equity Builder, Housing Our Workforce, and Lift Up Homeownership programs provided grants of $25,000 to $50,000 to qualifying borrowers to help with down payments, closing costs, or home improvements once purchased.

In addition, Hometown Mortgage set aside $200,000 for its own Special Purpose Credit grant program, providing grants of up to $10,000 to income-eligible borrowers purchasing homes in select areas of Springfield, Holyoke, and Worcester.

Hometown Mortgage Executive Vice President Ryan Kirwin says the effort demonstrates Hometown Mortgage’s continued commitment to helping borrowers realize their dream of homeownership by making it more affordable, and he adds that the grants directly address homebuyers’ biggest and most persistent obstacles: saving for a down payment, a decrease in affordability due to higher rates, and the lack of affordable housing inventory.

“These issues create overwhelming obstacles that many borrowers find nearly impossible to overcome without assistance,” Ryan says. “While we can’t solve every problem in the housing market, these grants make a world of difference, providing down payment assistance, closing cost assistance and the ability to buy down an interest rate and reducing their monthly payments.”