First-time Haverhill homebuyers may now qualify for up to $10,000 in grants though the equity builder program (EBP) at Haverhill Bank.

Recipients will receive assistance with a down payment, closing costs and home-buyer counseling, according to a statement.

Grants are awarded on a first-come, first-serve basis to households earning up to 80 percent of Haverhill’s median income. For example, households of one individual may qualify with an income of up to $44,800 and households of two may qualify with an income of up to $51,200.

The funding may be used toward the purchase of single-family owner-occupied one- to four-family dwellings, townhomes, duplexes and condominiums used as the borrower’s primary residence.

"Everyone should have the opportunity to purchase a safe, comfortable place to call home. Thanks to this funding, many families will now be able to afford homes not otherwise available to them," said Haverhill Bank President and Chief Executive Officer Thomas L. Mortimer.

The Federal Home Loan Bank of Boston awarded the bank up to $100,000 in funding to assist income-eligible households.