MANCHESTER, N.H.–St. Mary’s Bank is providing income-eligible, first-time homebuyers with funding to assist with down payments, closing-costs, home-buyer counseling, and rehabilitation assistance.
The credit union said it is eligible for up to $150,000 in funding from the Federal Home Loan Bank of Boston’s Equity Builder Program (EBP).
“Eligible households can receive grants of up to $15,000,” said Karen Mayrand, director of residential lending at St. Mary’s Bank. “These grants make a significant difference for families purchasing their first homes.”
The EBP provides funding to St. Mary’s Bank and other financial institutions to assist borrowers with total household incomes at or below 80% of the area median income. Applicants must meet program guidelines and funds are available on a first-come, first-served basis.
St. Mary’s Bank said it is also offering free First-Time Homebuyer Seminars for those preparing to transition into home ownership.