KALAMAZOO, Mich. – Consumers CU is introducing a program offering home buyer assistance grants of up to $7,500 for qualifying first-time home buyers.
Consumers CU said it is just one of a few credit unions in the state offering this unique program, which is funded annually through the Federal Home Loan Bank of Indianapolis.
Qualified first-time home buyers can receive assistance through July 15.
The program offers:
• Up to $7,500 home buyer assistance available per qualifying borrower (3 to 1 match of borrower’s own funds)
• Only 3% down payment (provided by the borrower) is required
• Grant money can be used towards the balance of the down payment, closing costs, and prepaids
• Offer is needs-based (annual household income: $33,800 maximum for singles; $48,300 for couples)
• Can be used in conjunction with any mortgage loan program at Consumers CU
