BERLIN — Northway 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 served basis. Buyers must also complete a homebuyer counseling program.

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