Leominster Credit Union announces that for the fourth year in a row, they will be providing up to $110,000in assistance to first-time homebuyers and displaced homemakers through the Federal Home Loan Bank’s Equity Builder Program. Eligible homebuyers can receive up to $11,000 in down payment and closing cost assistance. This program is on a first come, first serve basis.
To qualify, buyers are subject to credit approval and must meet the Equity Builder Program qualifications criteria, which include income limits. According to Julie Bergstrand, Real Estate Underwriting Manager, “The maximum income limit for a family of four in Worcester is $68,000.00, which is less restrictive than many would expect.”
“For many first time buyers, this assistance can mean the difference of fulfilling their dream of
homeownership,” said Bergstrand.
Income limits vary from county to county. For more information and eligibility guidelines, call and speak with a mortgage specialist at 800-649-4646. The funds will be distributed until the grant is depleted.
Founded in 1954, Leominster Credit Union (LCU) is a member-owned, not-for-profit financial cooperative with a full range of deposit, lending and other financial services. Headquartered in Leominster, Massachusetts, LCU is proud to claim nearly 50,000 members and more than $600 million in assets. LCU has seven branch locations in Leominster, Worcester, Clinton, Holden, Sterling and North Leominster with ATM services at all branch locations. 24-hour online banking services are available at www.leominstercu.com and by telephone at 800-649-4646.