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 yesterday.
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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.
