Leominster Credit Union Is excited to announce that for the second year in a row, we will be providing assistance to first-time homebuyers through a $150,000 grant from the Federal Home Loan Bank’s Equity Builder Program. This year, eligible homebuyers can receive up to $15,000 in down payment and closing cost assistance.
Leominster Credit Union granted $60,000 in 2012 to six first- time homebuyers. Each recipient was awarded $10,000 to assist with their down payment and closing costs.
To qualify, buyers must meet the Equity Builder Program qualifications criteria, which include income limits. According to Brenda Bujnevicie, Vice President of Real Estate Operations, “The income limit for a family of four in Worcester County is $64,400, which is less restrictive than many would expect.”
“For many first time buyers, this assistance means the difference between whether or not they can fulfill their dream of becoming homeowners,” said Bujnevicie. “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.”
Income limits vary from county to county. For more information and eligibility guidelines, call and speak with a mortgage specialist at 800-649-4646. The funds will be available until the grant is depleted.