Metro Introduces Mortgage Programs and Seminars Just in Time for Spring Housing Market

Metro Credit Union has introduced mortgage programs and Home Buying Seminars just in time for the 2015 spring housing market. The Equity Builder Program makes homeownership achievable with grants for eligible, low-income borrowers. The At Home Mortgage Program will be rolled out to additional Massachusetts’s communities and Metro’s Home Buying Seminars help members prepare for the entire home buying process from start to finish.
The Equity Builder program for Metro has been approved by the Federal Home Loan Bank for a second year in a row. This program allows Metro to offer homebuyer’s assistance in the form of grants given by the Federal Home Loan Bank. The grants are given in increments of $11,000 to eligible homebuyers that meet these eligibility requirements: homebuyer’s incomes are at or below 80 percent of the median income for the city or town in which they want to buy a home.
The At Home Mortgage Program is a special mortgage program for purchasing, refinancing and rehabilitating a home in specific Massachusetts gateway cities. The program, offered in conjunction with MassHousing and neighborhood and community development partners, is currently available in Lawrence. Upcoming program rollouts include Chelsea, Revere and Everett.
In addition to mortgage programs, Metro is offering several free Home Buying Seminars as a commitment to financial education and giving members access to resources for helping realize the dream of home ownership. The seminars run throughout Metro’s branch footprint, making the seminars widely available to Metro’s membership and the general public. These seminars are available in English and Spanish.
Thomas Nadeau, Metro Credit Union’s Senior Vice President and Chief Operating Officer said “Metro is adding programs that will help members achieve their financial goals and add enrichment to the communities that we serve. Our goals are to enable and educate people who are just within an arm’s reach of a mortgage. Metro is proud to help them achieve the dream of home ownership.”
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.