Community Lending Programs

Lending a helping hand to neighbors

 At Stoughton Co-Operative Bank, we work with neighbors to help them buy a home, build equity and make their homes more energy-efficient.

Housing Our Workforce (HOW) program

The Federal Home Loan Bank of Boston’s (FHLBank Boston) HOW program is designed to help working individuals and families in the community purchase a home.

  • Assists eligible homebuyers with up to $20,000 in matching grants for down-payment costs.
  • Provides two-to-one match of down payments made at the time of purchase by homebuyers earning more than 80% up to 120% of HUD area median income based on property location.
  • Supports borrowers who are essential to the long-term economic vitality of our communities, purchase homes in communities where they work.
  • First Time homebuyer recipients must attend a homebuyer education/counseling program.
  • First come, first serve. Stoughton Co-Operative Bank is eligible to receive up to $150,000 in 2022 through HOW depending on the availability of funds.

Equity Builder Program

The FHLBank Boston’s Equity Builder Program helps borrowers become homebuyers, while also supporting the financial stability and vitality of our communities.

  • Assists eligible homebuyers with up to $22,000 in down payment and closing costs.
  • Available to households with incomes at or below 80% of HUD area median income based on property location.
  • First Time homebuyer recipients must attend a homebuyer education/counseling program.
  • First come, first serve. Stoughton Co-Operative Bank is eligible to receive up to $220,000 in 2022 through the Equity Builder Program depending on the availability of funds.

Mass Save® HEAT Loan

Mass Save PartnerHomeowners looking to save money and make their home more comfortable may qualify for a no-interest Mass Save HEAT Loan.

The Mass Save® HEAT Loan offers interest-free financing
opportunities up to $25,000 for energy-efficient home upgrades like
the installation of air source heat pumps (central or ductless mini-
split), ground source heat pumps, heat pump water heaters,
insulation, and more.

Customers must meet program eligibility requirements to participate. Eligibility for the HEAT Loan Program is based on completing a Home Energy Assessment and pre-approval. Some restrictions apply and offers are subject to change or cancellation. Financing is subject to credit approval. Additional terms and conditions apply. Visit MassSave.com/HEATLoan or call 1-866-527-SAVE (7283) for details and to learn more about the program.

Please visit MassSave.com/HEATLoan for more information.
HEAT Loans are available to customers of Cape Light Compact, Eversource, National Grid, Unitil Electric, and municipal electric customers served by Berkshire Gas or Liberty Utilities.
Apply Now

Stoughton Co-Operative Bank NMLS# 403060
Christopher Milne NMLS# 403480

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