Leominster Credit Union Helps First-Time Homebuyers

LEOMINSTER, MA (April 8, 2016) Leominster Credit Union announces that for the third year in a row, they will be providing up to $150,000.00 in assistance to first-time homebuyers and displaced homemakers through the Federal Home Loan Banks Equity Builder Program. Eligible homebuyers can receive up to $15,000 in down payment and closing cost assistance. This program is on a first come, first serve basis. To qualify, buyers are subject to credit approval and must meet the Equity Builder Program qualifications criteria, which include income limits. According to Julie Bergstrand, Real Estate Underwriting Manager, "The income limit for a family of four in Worcester County is $65,700.00, which is less restrictive than many would expect." "For many first time buyers, this assistance can mean the difference of fulfilling their dream of homeownership," said Bergstrand. Income limits vary from county to county. For more information and eligibility guidelines, call and speak with a mortgage specialist at 800-649-4646. The funds will be distributed until the grant is depleted.

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About Leominster Credit Union

Founded in 1954, Leominster Credit Union (LCU) is a member-owned, not-for-profit financial cooperative with a full range of deposit, lending and other financial services. Headquartered in Leominster, Massachusetts, LCU is proud to claim nearly 50,000 members and more than $600 million in assets. LCU has seven branch locations in Leominster, Worcester (2), Clinton, Holden, Sterling and North Leominster with ATM services at all branch locations. LCU also provides 24 hour banking via Mobile and Online services. Visit leominstercu.com or call 800-649-4646.