Union Bankshares : Bank Offers Assistance To Homebuyers Through FHLB Boston Program 2019

NEWS RELEASE

FOR IMMEDIATE RELEASE

UNION BANK OFFERS ASSISTANCE TO HOMEBUYERS THROUGH FHLBANK

BOSTON PROGRAM

Morrisville, VT (March 1, 2019) - Union Bank has been selected to participate in the Federal Home Loan Bank of Boston's Equity Builder Program, which assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

The $3.6 million program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $15,000 in assistance on a first come first serve basis. Buyers must also complete a homebuyer counseling program.

"Homeownership is not easily attainable for many households, so we are pleased to offer this assistance to help individuals and families purchase a home. Homeownership helps build wealth and create financial stability, and programs that assist homebuyers can be effective in adding to the vibrancy of our communities," said David Silverman, President and CEO of Union Bank.

Union Bank is eligible to receive up to $150,000 in 2019 through the Equity Builder Program depending on availability of funds.

Since 2003, the Equity Builder Program has awarded more than $38.8 million in EBP funds assisting 3,512 income-eligible households to purchase a home.

To learn more about applying for assistance, please contact any Union Bank mortgage loan originator or call 800.753.4343 and ask to speak with a mortgage loan originator.

About Union Bank

Union Bank has been helping people buy homes and local businesses create jobs in area communities since opening its doors in 1891. Union Bank has earned an outstanding reputation for residential lending programs and has recently been named, for the fifth year, the USDA Rural Development Vermont lender of the year. Union Bank is also a Small Business Administration Preferred lender. Proud to be one of the few community banks serving Vermont and New Hampshire, Union Bank maintains a strong commitment to traditional values. Dedicated to providing genuine customer service and community support, Union Bank donates to various local nonprofits annually. These values-combined with financial expertise, quality products and the latest technology-make Union Bank the premier choice for your banking services, both personal and commercial. Member FDIC. Equal Housing Lender.

About FHLBank Boston

TheFederal 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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