The program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $22,000 in assistance on a first come first serve basis. Recipients must also complete a homebuyer education/counseling program.
SFCU is eligible to receive up to $220,000 in 2022 through the Equity Builder Program depending on availability of funds.
Subject to credit approval. Must have individual or household income equal to or below 80% of the HUD median income based on future address to qualify. Must be primary residence. The funds are from a pool of monies provided by FHLB and are available on a first-come, first-served basis. Funds are not guaranteed. Restrictions may apply.
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
I sincerely appreciate the personalized experience we receive from all of the staff at SFCU, whether it be the person greeting you at the front door, the tellers, the staff that helps with notarizations, mortgages or wire transfers. I have dealt with all of these areas at the Credit Union and have always been assisted in a timely, friendly and helpful manner. It is by far the best bank/credit union I do and have ever done business with.
This was the first time I had purchased a vehicle without going through a dealer for financing. When I went to the Credit Union I was seen immediately by the Loan Department. The Loan Officer was very knowledgeable. I was given a list of documents to gather and was promptly taken care of when I returned with them. My wife will be contacting your office about refinancing her student loans.
In my 30+ years in Somerset, I have never seen a financial institution with such great service. Keep up the great work, you have a great deal to be proud of.
Our Money Management Officer, Kassandra, was great to work with. I do not think she could do better.
