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Press Release


Metro Credit Union offers unique mortgage program
for first time homebuyers

 

Chelsea, MA – April 12, 2010– Metro Credit Union is pleased to offer the First Step mortgage, a new home loan program that provides safe, affordable mortgages with low downpayments to qualified first time home buyers.

“Metro is proud to offer this loan program which will benefit buyers and their families. This program will help our customers achieve the dream of home ownership,” said Robert M. Cashman, President and CEO of Metro. “The First Step mortgage is one example of our continued commitment to provide affordable mortgages to families in our community,” Cashman added.

Developed by Metro, the First Step mortgage program provides qualified first time home buyers with low down payment mortgages. The program includes lender-paid Private Mortgage Insurance, which is a substantial cost-savings to the buyer. Also, interest rates are discounted based on the buyer's income.

The First Step program offers up to 97-percent financing for single-family homes, and 95-percent financing for two, three, and four-family properties. For more information about the First Step program at Metro Credit Union, please visit www.metrocu.org or call 877-MY-METRO.

About Metro Credit Union

Metro Credit Union is one of the largest credit unions in Massachusetts with over $780 million in assets, and serves over 120,000 members.  Established in 1926 and based in Chelsea, Metro offers superior service and a full range of financial products, including investment and insurance offerings, for consumers and businesses in eastern Massachusetts.  Metro has nine branch offices conveniently located in Burlington, Chelsea, Framingham, Lawrence, Lynn, Peabody, Swampscott, Tewksbury, and a tenth branch soon to open in Boston.  Metro is also a leader in workplace banking, serving over 1,800 companies throughout the state.