BOSTON - Military veterans will have access to as much as $200 million of low- and no-down payment mortgages from 50 credit unions and banks under a new program unveiled by Massachusetts’ governor and the participating institutions. The “Home for the Brave” program will offer vets discounted mortgage rates, mortgage insurance for low down payments, and up to 100% financing through a program organized through MassHousing, the state’s non-profit housing agency.
Among the participants are: Crescent CU, First Citizen’s FCU, S. Mary’s CU, Greylock FCU and Metropolitan CU.
Fannie Mae has provided a $300,000 grant to provide closing costs for the first 200 eligible borrowers.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
