Bellwether Community Credit Union has been selected to participate in Federal Home Loan Bank of Boston’s homeownership assistance programs, Equity Builder Program and Housing Our Workforce.
Equity Builder Program (EBP) provides grants to financial institutions to assist local income-eligible homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80% of the area median income are eligible to receive up to $29,000 in assistance on a first-come, first-served basis. Buyers are required to complete homebuyer education/counseling if they are a first-time homebuyer.
Housing Our Workforce (HOW) provides assistance to financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments on owner-occupied primary residences. Borrowers can receive 10% of the home sales price or up to $25,000 in assistance on a first-come, first-served basis. Buyers are required to complete homebuyer education/counseling if they are a first-time homebuyer.
“These grant programs are designed to ease some of the challenges associated with a home purchase, particularly at a time when home prices have risen sharply and are beyond the reach of many individuals and families. We are pleased to participate to help borrowers become homebuyers, while also supporting the financial stability and vitality of our communities,” said William Zafirson, Chief Lending Officer, Bellwether Community Credit Union.
Bellwether is eligible to receive up to $350,000 in 2023 through the EBP and up to $260,0000 through HOW depending on availability of funds.
To learn more about applying for assistance through these programs, please click here.
About Bellwether Community Credit Union
Since 1921, Bellwether Community Credit Union has offered financial services to consumers residing or working in New Hampshire and Essex and Middlesex counties in Massachusetts. As a not-for-profit credit union, Bellwether focuses on giving value back to members through better rates and lower fees; local, personal service; and digital channels which simplify how people bank, borrow and pay. Members can access their accounts at nearly 30,000 free ATMs nationwide and approximately 6,500 CU Service Centers around the world. Bellwether Community Credit Union has branches in Bedford, Manchester and Nashua. For more information about Bellwether Community Credit Union, visit www.BCCU.org
About FHLBank Boston
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.