St. Mary’s Bank is pleased to announce Matthew Govoni, of Londonderry, as this year’s first recipient of grant funds from their recently announced Equity Builder Program. Govoni closed on his first home in Manchester on May 30. The Equity Builder Program funds, which provide down payment assistance in the form of a grant to eligible first-time homebuyers, became available earlier this spring.

“I was tired of renting; I started looking earlier this year.” Govoni said, “I was inspired by what some elbow grease could accomplish. As a recent college graduate and starting my teaching career, I wanted a place to call my own.” Govoni’s situation is not uncommon, there are many potential first-time homebuyers in the state, yet many aren’t aware of the funding sources and options available to them. His realtor, Daniel Hobson, currently of the Masiello Group in Concord, recommended Mary Sullivan of St. Mary’s Bank to provide Matthew with financing guidance. “Daniel and I spent a lot of time working with Matthew to find the best financing and the best properties available to him,” Sullivan said. “The Equity Builder Program is a great opportunity to increase what you can afford and your available housing options, or to maintain your own savings.” Eligible borrowers can qualify for up to $15,000 in down payment assistance in the form of a grant. “Most homeowners would never get this opportunity,” said Hobson, “this is a great opportunity [for Matthew],” who qualified for over $14,000, and made it possible to upgrade from his original goal of buying a condominium to a townhouse.

St. Mary’s Bank participates in the Equity Builder Program though the Federal Home Loan Bank of Boston. Additional funds are anticipated to become available later this summer. Funds are available on a first-come, first-served basis. To learn more about The Mortgage Center at St. Mary’s Bank, or the Equity Builder Program and eligibility requirements, please visit www.stmarysbank.com or call 1-888-705-9596.