Metro Credit Union Offers Assistance to Homebuyers Through FHLBank Boston Program
Metro Credit Union has been selected to participate in the Equity Builder Program offered through the Federal Home Loan Bank (FHLBank) of Boston, which expands homeownership opportunities for income-eligible households. Since 2003, the Equity Builder Program has awarded more than $38.8 million in EPB funds assisting 3,512 eligible first time homebuyers.
A maximum of $15,000 per household will be available on a first-come, first-served basis to applicants who meet the household requirements. Applicants must be at or below 80% of the area median income, have sufficient income to support the home purchase, and attend homebuyer education or counseling prior to the closing on the property. Funds are eligible to be used towards a down payment, one time mortgage insurance premium, rehabilitation assistance, and closing costs. The next online application period begins on April 15, 2019 through May 10, 2019. This grant can be used with several of Metro’s mortgage products, including HomeReady, Home Possible, and the Mass Housing programs.
“Homeownership is central to building wealth and creating financial stability, and programs that assist in the home buying process are an essential component in ensuring that our communities continue to thrive,” said Robert Cashman, President and CEO of Metro Credit Union. “We are excited to participate in the Equity Builder Program and assist those in our community on their path to homeownership.”
To learn more about applying to assistance, please contact a Metro Mortgage Specialist at 877.696.3876 or visit MetroCU.org.
- - - - -About Metro Credit Union
Metro Credit Union is the largest state-chartered credit union in Massachusetts, approaching $1.9 billion in assets. Metro provides a full range of financial products to more than 200,000 members in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable, Bristol and Worcester counties in Massachusetts, and Rockingham and Hillsborough counties in New Hampshire, as well as to employees of over 1,200 companies through its Metro@work program.
Founded in 1926, Metro currently operates 15 branch offices in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, and Tewksbury. Metro is also a Juntos Avanzamos (“Together We Advance”) designated credit union, an honor given to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers.
Learn more at MetroCU.org.
About Federal Home Loan Bank of 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.