Metro Announces At Home Program for Chelsea, Revere and Everett

Metro Credit Union, in conjunction with MassHousing and the cities of Chelsea, Revere and Everett announced the “At Home” Program. This new mortgage loan program is focused on the financing of property purchases, property refinancing and property rehabilitation exclusively in these cities.
 
Ned Keefe, Chelsea City Manager, said, “This is a great option for our residents to own and revitalize the community in which they live with the help of organizations like MassHousing and Metro Credit Union.”
 
Insured by MassHousing and financed by Metro Credit Union, this innovative program offers expanded loan to values and less restrictive reserve and credit requirements for low- and moderate-income borrowers.
 
“We are very pleased to partner with Metro Credit Union and the Chelsea Restoration Corporation to help provide quality home mortgage financing for residents in Chelsea, Everett and Revere,’’ said MassHousing Executive Director Thomas R. Gleason. “Metro Credit Union and the Chelsea Restoration Corporation are valued business partners who share our mission and commitment of helping working families not only achieve the goal of owning their own home, but also being able to put down solid roots and live in these communities for the long term.’’
 
“Our relationship with MassHousing shares many common goals. One of the strongest is to give affordable lending options to residents in our communities and help them achieve their own financial goals”, said Robert Cashman, President and CEO of Metro Credit Union. “The At Home Programs are another avenue for our members to achieve financial goals that they may not have been able to otherwise. I’m very excited that we are launching in Metro’s backyard of Chelsea, Revere and Everett.”
 
The Chelsea Restoration Corporation will oversee the management of this initiative. Not only will this program cover property purchases and refinancing, but it will also help revitalize properties within the city. Mortgage loans may cover the cost of alterations, renovations, additions, accessibility improvements and repairs to existing structures.
 
Borrowers purchasing or refinancing with or without rehabilitation on properties located within Chelsea, Revere or Everett can contact Metro Credit Union for further details and for eligibility requirements.

Metro and MassHousing also launched the same program for the City of Lawrence in September 2014.
 
About Metro Credit Union
Metro Credit Union is the largest state-chartered credit union in Massachusetts with over $1.3 billion in assets, and serves more than 170,000 members. It is a growing, federally insured financial institution and a leading provider of a full range of financial services to anyone living or working in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable or Worcester counties in Eastern Massachusetts, as well as Massachusetts state employees and retirees throughout the Commonwealth.
 
Founded in 1926, Metro Credit Union is a non-profit cooperative institution, owned by and operated for the people who use and benefit from its products and services. Metro uses superior customer service and technology to deliver a full range of financial products to consumers and businesses in eastern Massachusetts. Metro is well known for providing members with unlimited refunds of other banks’ ATM fees through its My Reward Checking account
 
Metro Credit Union has 15 branch offices conveniently located in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, and Tewksbury, and is also a leader in workplace banking, serving over 1,800 companies throughout the state.
 

About MassHousing

MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $17 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.