The $608 million Leominster Credit Union in Leominster, Mass., said it will be providing up to $15,000 in down payment and closing cost assistance to first-time homebuyers this year.
The 49,100-member credit union said it has received a $150,000 grant from the Federal Home Loan Banks' Equity Builder Program to fund the program locally for the second consecutive year.
Last year, six first-time homebuyers received $10,000 each through the program. They had to meet criteria that included the $64,400 income limit for a family of four in Worcester County, Leominster CU said.
“For many first time buyers, this assistance means the difference between whether or not they can fulfill their dream of becoming homeowners,” said Brenda Bujnevicie, the credit union's vice president of real estate operations.
“This year, the additional funds and the increase from $10,000 to $15,000 maximum per applicant, means we can help even more first time homebuyers than we did last year,” Bujnevicie said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
