MANCHESTER, N.H. — St. Mary's Bank, the nation's first credit union, is offering first-time home-buyers assistance with down payments and closing costs.
The $814 million credit union has been approved for up to $110,000 in funding from the FHLB of Boston's Equity Builder Program, and income-eligible members can receive grants of up to $11,000 for homebuyer counselling and rehabilitation assistance as well.
"These grants will make a real difference for families purchasing their first homes," said Karen Mayrand, director of residential lending.
The Equity Builder Program provides funding to FIs to assist borrows with total household incomes at or below 80% of the area median income. Applicants must meet specific guidelines, and funds are first-come, first-served.
