Leominster Credit Union announces that for the seventh year in a row, they will be providing up to $110,000 in assistance to first-time homebuyers and displaced homemakers through the Federal Home Loan Bank’s Equity Builder Program. Eligible homebuyers can receive up to $11,000 in down payment and closing cost assistance. This program is on a first come, first serve basis.
To qualify, buyers are subject to credit approval and must meet the Equity Builder Program qualifications criteria, which include income limits. According to Julie Bergstrand, Real Estate Underwriting Manager, “The maximum income limit for a family of four in Worcester is $68,650.00, which is less restrictive than many would expect.”
“For many first time buyers, this assistance can make a difference in fulfilling their dream of homeownership,” said Bergstrand.
Income limits vary from county to county. For more information and eligibility guidelines, call and speak with a mortgage specialist at 978-466-7233. The funds will be distributed until the grant is depleted.