St. Mary’s Bank is providing income-eligible, first-time homebuyers with funding to assist with down payments, closing-costs, home-buyer counseling, and rehabilitation assistance.

The nation’s first credit union has been approved, and is eligible for up to $150,000 in funding from the Federal Home Loan Bank of Boston’s Equity Builder Program (EBP).

Eligible households can receive grants of up to $15,000,” said Karen Mayrand, Director of Residential Lending at St. Mary’s Bank. “These grants make a significant difference for families purchasing their first homes.”

The EBP provides funding to St. Mary’s Bank and other financial institutions to assist borrowers with total household incomes at or below 80 percent of the area median income. Applicants must meet program guidelines and funds are available on a first-come, first-served basis.

St. Mary’s Bank offers free First-Time Homebuyer Seminars for those preparing to transition into home ownership. Registration is open to the public online at www.stmarysbank.com/events. For more information about the Equity Builder program or to see if you qualify, please contact the Mortgage Center at St. Mary’s Bank at 1-888-705-9596.