North Grafton, MA – Homefield Credit Union has opened the doors to many more potential homeowners as it has once again been approved to participate in the Federal Home Loan Bank of Boston’s 2016 Equity Builder Program.
The Federally-sponsored program issues grants to member financial institutions to provide assistance to income-qualified buyers in the purchase of housing units that they will occupy as their primary residence. For 2016 Homefield has been awarded a total of $150,000 which can be disbursed to qualifying members in amounts of up to $15,000. And the program is flexible. Assistance can be in the form of a down payment, closing costs, homeowner counseling and even rehabilitation assistance.
Lloyd Hamm, President and Chief Executive Officer of Homefield is enthusiastic about the program and anxious to see it get under way for the second year in a row.
“We operate in a diverse economic community and there are many income-qualified people who just need a little help in buying a home. By being an approved institution with the Federal Home Loan Bank’s program, we can now provide the help they need. We’re thrilled to be able to do that and we know that while the immediate impact will be on the new homeowners, the community will also benefit by the increased home ownership and all the positive aspects that placing permanent roots in the community brings.”
Interested parties should call or visit Homefield Credit Union. The lending staff is well versed and trained in the program and is ready to put their knowledge to work.