Housing Our Workforce Procedures + Requirements
As a member, now that you’ve decided to apply for Housing Our Workforce (HOW), mark your calendars with these important dates and review how the program works in detail.
Application Period + Funding Rounds
The application period for HOW opens Monday, Februray 3, 2025, and closes Friday, February 28, 2025, at 3:00 p.m. Approved members will have access to the funds allocated to the HOW funding round until they have met their maximum amount or until the pool runs out. Funds are always on a first-come, first-served basis. Please refer to the 2025 Program Features and Notice of Changes and the EBP HOW Procedures for additional information.*
The 2025 EBP/HOW funding release schedule as follows: Tuesday, April 1; Tuesday, April 15; Thursday, May 1; Thursday, May 15; Monday, June 2, Monday, June 16, Tuesday, July 1; and Tuesday, July 15. These dates are subject to change.
Going through the Process
There are three easy steps to take advantage of HOW:
- Apply to participate in the program (this is an annual application process).
- Once approved to participate, enroll homebuyers.
- After the closing, request disbursement of the grant(s).
To apply and enroll homebuyers, go to the Community Lending Login. All other forms for the application and enrollment process can be found in Forms + Applications.
The standard review time for homebuyer enrollment applications is 15 business days assuming all acceptable documentation has been submitted.
To ensure you have all necessary documentation, please refer to this checklist.
Ready to apply?
Members can apply and enroll homebuyers here:
Member Eligibility
View member eligibility guidelines or contact the program manager.
Training Materials
Find the training materials to help you secure a HOW grant.
Creating Opportunity
Our 2019 Annual Report highlighted how borrowers used a program grant to buy a home.
*The number of periods, the percentages, and dates can change based on FHLBank Boston's sole discretion, the current year’s program need, and member/homebuyer demand.